Sentiment: Weak
Yields on gilts ended higher owing to profit sales and fears over an attack on Iraq.
In absolute terms, gilt prices came off by a rupee.
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Corporate bond yields, too, hardened by 10-20 basis points.
The benchmark 5-year Hindalco paper was quoted at 6.95/7.00 per cent against the previous level of 6.90 per cent.
Call money ended easy at 5.40-5.50 per cent on the back of easy liquidity.
Forex market
Market Sentiment: Bullish
The rupee ended firm at 47.7050/7150 owing to easing crude oil prices coupled with good dollar inflows. The currency opened at 47.76/77. It had closed at 47.76/77 the previous day. State-run banks were seen selling dollars.
Outlook: The rupee may rule firm in the 47.68-47.73 range on the back of technical factors and good dollar inflows.
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