Money

Sentiment: Steady

Yield of the benchmark 10-year gilt yet again touched a lifetime low of 6.31 per cent.

Though gilts were buoyant till noon, all gains were wiped out in the noon session.

Yield of the benchmark corporate paper was dealt at 6.35 per cent in the noon and finished at 6.40 per cent.

Call money closed lower at 5.00-5.25 per cent against its previous 5.20-5.35 per cent.

Outlook for tomorrow: Gilts will be weighed down by comments of a senior RBI official that "there is a bias towards discomfort". Call money should rule easy on reporting Friday.

Forex

Sentiment: Stable

The rupee wound up weaker at 48.2550/2650 to a dollar as against the previous close of 48.24.

Opening at 48.23/24, there was good bidding interest as the New York market was closed on Thursday.

The rupee touched an intra-day low of 48.26/27.

While there was good month-end demand from oil companies, supply of the greenback was moderate.

Forward premiums firmed up by 7-8 paise on the back of comments of a central bank official that interest rate differentials were not reflected in the forward market and paying interest by banks.

Outlook: The rupee should get dealt up to 48.30 per dollar. With the New York market closed today, there will be no supply of the greenback. Forward premiums should edge up further.