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Outlook:
The spot rupee is expected to open in the range of 41.23-30 to a dollar on Friday. |
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| Sentiment:Bearish |
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| Dollar demand from oil companies and interbank covering by banks to cut losses saw the rupee close at 41.28/30 after opening at 40.94/96 to a dollar The annualised premium for six-month and one-year forward dollars closed at 4.94 per cent and 4.19 per cent respectively |
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| Money Market |
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| Sentiment: Bearish The auction of Rs 1000 crore weighed down market sentiment where players preferred to sell and remain light in portfolio. The yield on the 10-year benchmark paper closed at 8.12 per cent against 8.08 per cent on Wednesday. Prices of government securities fell by 30-40 paise across maturities. Call rates fell to a low of 1 per cent before closing for the day at 2 per cent for the day. The RBI bids worth Rs 20,000 crore under reverse repo. The market is expecting a cut-off yield of 8.19-8.20 per cent for 7.49 per cent 2017 and 8.56-8.60 per cent for 8.33 per cent 2036 security to be auctioned on Friday. |
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