Markets Report

Money market

Sentiment: Bearish

Prices of long-term government securities declined sharply as the hike in oil prices weighed heavily on the market.

The price of 15-year security declined by 20-25 paise, while that of the 20-year paper fell by 30-35 paise.

Prices of medium- and short-tenor gilts remained moved in a narrow range.

Call money rates ended around 4.5 per cent.

Repo subscriptions stood at Rs 28,200 crore.

Forex market

Market Sentiment: Flat

The rupee touched a high of 45.8150 on Monday on the back of dollar inflows coupled with export cancellations, but ended at 45.85/86.

Forwards strengthened, with the 6-month and 1-year annualised premiums ending at 1 per cent and 1.05 per cent respectively.

Outlook:

The rupee is expected to open in the range of 45.84/86 on Tuesday.