Money market |
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Sentiment: Bearish
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| Heavy selling resulted in a 5-6 paise dip in the prices of long-term gilts. The actively traded 7.27 per cent 2013 paper was quoted lower at Rs 111.87/89. |
| The rise in the 10-year US treasury bond yield from 3.65 per cent to 4 per cent hit the sentiment. The 10-year, benchmark 9.81 per cent 2013 gilt government paper closed lower at 5.71 per cent. |
| Call rates moved in the 4.90-5 per cent range owing to ample liquidity. Repo subscriptions to the tune of Rs 24,735 crore were witnessed on Wednesday. |
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Forex market |
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Market Sentiment: Volatile
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| The spot rupee opened lower at 46.20 with the dollar strengthening globally. The currency hit an intra-day low of 46.38 and closed at the opening level. |
| Forward premiums firmed up with the six-month premium closing at 2.65 per cent. |
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Outlook |
The rupee is expected to open on Thursday at 46.1530. |
