Money

Sentiment: bullish

Yield of the benchmark 10-year gilt yet again tested a new lifetime low of 6.358 per cent.

Gilt prices were driven up by comfortable liquidity and aggressive cut-offs emerging at the auction of the 91-day and 364-day t-bills.

Medium and long-tenor gilts moved up 20 and 60 paise, respectively.

Yield of the 5-year corporate bond was dealt at 6.36 per cent against its previous day's 6.48/43 per cent.

Call money closed easy at 5.20-5.35 per cent against its previous close of 5.10-5.25 per cent.

Stray call deals were even reported at 4.75 to five per cent.

Outlook for tomorrow: Gilts are expected to be bullish given the aggressive cut-offs at the t-bills auction. Call money will be comfortable.

Forex

Sentiment: stable

The rupee ended ended weak at 48.24 to a dollar against its previous 48.21/22.

ECB repayments by some firms and government demand to meet its overseas debt obligations weakened the rupee.

Outlook for tomorrow: The rupee is expected to trade around 48.22-48.27 to a dollar owing to month-end demand. Forwards could edge up slightly.