Markets Report

Sentiment: Dull

• Gilt prices were off early lows on Tuesday on easy money market liquidity but volumes were low and trading sentiment dull.
• The 8.07 per cent 2017 bond closed high at 5.7180 per cent against Monday's close of 5.7084 per cent.
• Call money rates finished at 4.30-4.50 per cent on Tuesday, up from its previous close of 4.25-4.50 per cent.
• Bulk of the deals were struck around the repo rate of 4.5 per cent.

Forex market

Sentiment: Firm

• The rupee ended firm on Tuesday at 45.5350/5450 per dollar (45.5575/5675) on a wobbly dollar and an upward revision in India's debt outlook by S&P.
• The six-month forward premium ended at 0.13 per cent, down from the previous close of 0.24 per cent.

Outlook Rupee may see moderate gains on Wednesday as RBI will be keen to maintain India's export competitiveness.