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Sentiment: Bullish
- The government's low fiscal deficit target and the proposed cancellation of scheduled gilts auction strengthened the market sentiment.
- Prices of the long term government securities rose by 25-30 paise, while those of the medium-term papers went up by 15-20 paise.
- The yield on the ten-year benchmark paper ended lower at 5.16-5.17 per cent.
- Call money rates closed at 4.30 per cent.
- Repo subscriptions touched Rs 45,000 crore amid abundant liquidtity in the banking system.
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| Forex market |
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Sentiment: Bullish - The rupee opened at 45.2950/30 and closed around 45.28/29 before falling to 45.3250 per dollar.
- Forward premiums eased as the market witnessed cash dollar shortage. The annualised premiums on the six-month and one-year dollars closed at 0.95 per cent and 0.80 per cent respectively.
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| Outlook The rupee is expected to open in the range of 45.27-45.31 per dollar. |
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