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Sentiment: Bearish
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| With inter-bank players consolidating and selling at very rally, prices of gilts across the board fell by 30 paise. The 10-year benchmark paper 7.27 per cent 2013 hovered around 5.08 per cent. The market did not witness any major buying demand from banks. Call rates remained rangebound at 4/4.5 per cent. Repo subscriptions was around Rs 11,000 crore as against Rs 13,000 crore on Tuesday which was one of the reason for concern for the market players. |
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| Forex market |
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Market Sentiment: Weak
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| Inter-bank demand for short covering pushed the rupee to close at 45.35/36 after opening at 45.30/32. Excessive demand for cash dollars pushed the premium on one month, three month to a discount of 0.90 per cent and 0.12 per cent. |
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| Outlook |
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| The spot rupee is expected to open in the range of 45.34/36 to a dollar. |
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