Markets Reports

Money market

Sentiment: Bullish

Gilt prices went up following aggressive buying from mutual funds.

Banks were seen booking profits with the September quarter coming to a close.

Long tenor gilts saw prices up by 10-15 paise, while short and medium term papers rose 5-7 paise.

The 10-year benchmark paper 9.81 per cent 2013 closed at 5.30 per cent.

Call money rates ruled at 5.30 per cent and repo subscription stood at Rs 19,050 crore.

Forex market

Market Sentiment: Bearish

The spot rupee opened weak at 45.93/94 but recovered to 45.90 only to end lower at 45.95 to a dollar.

Forwards firmed up as corporates sought to hedge their open dollar positions. The six-month forward premium closing at 1.01 per cent.

Outlook

The spot rupee is expected to open weak in the range of 45.93/94 to a dollar.