Markets Reports

Money market

Sentiment: Bearish

Prices of government securities fell across the market amid dampened sentiment and apprehensions of slow down in inflows in the foreign exchange market.

Prices of medium- and long-term papers went down by 22-25 paise, while those of short-term witnessed extremely thin trades.

Yield on the ten-year benchmark paper, 9.81 per cent 2013, closed higher at 5.32 per cent.

Call money rates tightened a bit around 4.65/4.70 per cent.

Repo subscriptions were relatively lower at Rs 16, 185 crore.

Forex market

Market Sentiment: Bearish

The rupee opened weaker at 45.98/99 and fell to 46.08/09 due to excessive export cancellations. It, however, closed at the opening level.

Forward premiums rose due to fresh exporter bookings. The 6-month premium ended at 1.25 %.

Outlook

The spot rupee is expected to open in the range of 45.98-46.03 to a dollar.