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Sentiment: Bullish
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| Gilts rallied following buzz about bank, CRR and repo rate cuts. Short-term papers witnessed a significant rally as players arbitraged between 5-year swap rates; prices moved up by 20-25 paise . Long-term papers rose by 30-40 paise, while medium-term gilts ascended by 20-25 paise. The benchmark 9.81 per cent 2013 ended at a yield of 5.265 per cent. Call rates was comfortable at 4.5 per cent. |
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| Forex market |
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Market Sentiment: Bullish
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| Rush by banks to fund nostro positions due on September 29 pushed the rupee down to 45.87/88 per dollar. With the no short positions left in the market, one month forward premium closed at a discount of 0.71 per cent. |
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| Outlook |
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| The rupee is expected to open today higher at 45.82/84 to a dollar. |
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