Market Reports

Money market

Market Sentiment: Bullish

Prices of government securities of long and medium tenures went up by around 20 paise.

Besides ample liquidity, falling yields of US bonds fueled the rally.

The ten-year benchmark 9.81 per cent 2013 paper closed at a new low of 5.62 per cent.

Corporate bonds witnessed a 3-5 paise upward price movement across the board, with yields falling by 1-2 bps.

Call rates hovered around 4.95 per cent with repo subscriptions at Rs 25,845 crore.

Forex market

Market Sentiment: Good

Spot rupee closed higher at 46.1450/1550 owing to aggressive buying by banks.

Forwards went up with the six-month and one-year annualised premiums closing at 1.97 per cent and 2.02 per cent.

Outlook

The rupee is expected to open today at 46.13/15 to a dollar.