Re advances to 43.48/$

MARKETS REPORT

Outlook
The spot rupee is expected to open at 43.46/43.49 to a dollar on Thursday.

Sentiment: Bearish

The ban on UBS Securities, one of the major FIIs, resulted in a bearish sentiment and dollar-buying.

The spot rupee opened at 43.53/43.54, came down to 43. 63 before recovering to a close of 43.47/43.48 to a dollar.

The six-month and one-year forward premiums closed at 1.50 per cent and 1.38 per cent.

Money market

Sentiment: Dull

Prices of government securities remained rangebound, moving in a 3-4 paise band.

The ten-year benchmark 7.38 per cent gilt yield closed at 7.15 per cent.

Interbank call rates ruled at 4.8/4.90 per cent. Reverse repo bids were at Rs 22,000 crore.

The corporate bond market did not witness any activity.