Markets end week on a bearish note

MARKETS REPORT

Forex market

Outlook: The rupee is likely to open in the range of 45.02-07 against the greenback on Monday.

Sentiment: Bearish

• The rupee opened at 45.03/04 per dollar and ended lower at 45.16/17.
• Premiums on forward dollars rose with some corporates rolling back their contracts.

Money market

Sentiment: Bearish

• Following the global trend, the gilts market has turned bearish and did not react to the headline inflation figure, which stood flat at 5.03 per cent.
• Prices of long-term securities fell by 20-30 paise, while those of medium-term paper dipped by 5-10 paise.
• The yield on the ten-year benchmark paper, 7.37 per cent 2014, closed at 5.33-34 per cent.
• Call money rates are in the range of 4.25-4.30 per cent
• Repo subscriptions stood at Rs 8,125 crore.