Markets Report

Money market

Sentiment: Dull

Prices of government securities remained flat for most part of the day.

Liquidity was enough with rupee subscriptions of around Rs 31,000 crore.

The benchmark 10-year, 9.81 per cent 2013 paper closed flat at 5.7150 per cent.

The market was lacklustre owing to lack of clarity on the interest rate outlook and the RBI governor ruling out any repo rate cut .

Call money ended at 4.75-5.00 per cent amid ample liquidity in the system.

Forex market

Market Sentiment: Bullish

Spot rupee reached a new high of 46. 1950 after opening at 46.23/24. It closed at 46.2150.

Six-month and one-year forward premiums closed at 2.60 per cent and 2.41 per cent, respectively.

Outlook

The rupee is expected to open at 46.20/21 onFriday.