Markets Reports

Money market

Sentiment: Bullish

After a long spell, gilt prices went up on fresh buying.

Long tenors went up by almost 50 paise, while medium-tenor and short-tenor papers saw a price hike of around 20- 30 paise and 10-15 paise.

The 10-year benchmark 9.81 per cent 2013 came off to close at 5.31 per cent.

Call rates hovered around 4.5 per cent whereas repo subscription went up to around Rs 24,000 crore.

Corporate bonds also had a rangebound rally.

Forex market

Market Sentiment: Bullish

The spot rupee opened at 45.82/84 but weakened to close at 45.90/91 to a dollar.

The NRE deposit cap hit forward premiums. While six-month premium closed at 0.90 per cent, one-year closed at 1 per cent.

Outlook

The spot rupee is expected to open today in the range of 45.88/90 to a dollar.