Markets Report

Sentiment: Bearish

• Government security prices sank on profit-taking ahead of the US Federal Reserve meet.
• Prices of both long- and medium-term securities declined by 5 paise.
• The yield on the ten-year benchmark paper, 7.37 per cent 2014, closed at 5.19 per cent.
• Call money rates firmed up to 4.30-4.50 per cent on the back of tax outflows.
• Subscriptions at the repo window stood at Rs 55,000 crore.

Forex market

Sentiment: Bullish

• The rupee opened at 45.24/25 per dollar and closing higher at 45. 2375/2425.
• Premiums on dollar forwards firmed up marginally. Annualised premiums on six-month and one-year dollars closed at 0.40 per cent and 0.51 per cent, respectively.

Outlook The rupee is expected to open between 45.23 and 45.25 against the greenback.