Money market |
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Sentiment: Bearish
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| Gilt prices fell across the board as frantic selling by mutual funds on Wednesday triggered losses for most banks and primary dealers. |
| While prices of long-term securities crashed by almost 50-80 paise, medium- and short-term papers fell by 10-20 paise. |
| Yield on the ten-year benchmark paper, 9.81 per cent 2013, closed at 5.33 per cent. |
| The 7.27 per cent 2013 security was the highest selling paper. |
| Call money rates ended at 4.5 per cent. Subscriptions at the repo window stood at Rs 18,040 crore. |
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Forex market |
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Market Sentiment: Bullish
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| The rupee opened at 45.70/71 per dollar and closed at 45.71 after falling to 45.7275/73 on aggressive dollar buying by public sector banks. |
| Forward premiums dipped on low dollar demand. Six-month premium closed at 1.23 per cent. |
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Outlook |
The spot rupee is expected to open at 45.70/72 per dollar. |
