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| Money Market |
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Sentiment: Bearish - Government security prices took a beating today on inflation concerns.
- The headline inflation was at 5.94 per cent, higher than the market's expectations of 5.71 per cent.
- Prices of long-term papers declined by 10-15 paise and those of medium-term papers fell by 5-7 paise.
- The yield on the ten-year benchmark paper closed at 5.2431 per cent, higher than Thursday's close of 5.24 per cent.
- Call rates declined to 3.75-4.25 per cent from 4.25-4.50 per cent on Thursday.
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| Forex market |
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| Sentiment: Bullish |
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- Talk of Warren Buffett's $1 billion investment in the ONGC issue lifted the rupee to 45.2925/2975 per dollar from Thursday's 45.3250.
- Premiums on forward dollars firmed up. Annualised premiums on six-month and one-year dollars closed at 0.30 per cent and 0.43 per cent, respectively.
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| Outlook The rupee is likely to open between 45.28 and 45.31 against the dollar. |
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