Re drops, gilts slip ahead of exit poll

Outlook: The rupee is expected to open on Tuesday between 45.04 and 45.10 against the greenback.

Sentiment: Bearish

• The rupee opened at 44.84 per dollar closed lower at 45.05.
• Discounts on forward dollars narrowed on exporters cancellations. Annualised discount on six-month and one-year dollars closed at 0.47 per cent and 0.22 per cent respectively.

Money market

Sentiment: Bearish

• Government security prices slid across the board on uncertainty in exit poll results and panic in the forex market.
• Prices of long-term securities declined by 30 paise, while those of medium-term gilts slipped by 15-20 paise.
• The yield on the ten-year benchmark paper, 7.37 per cent 2014, closed higher at 5.19 per cent.
• Call money rates moved between 4.25 per cent and 4.35 per cent.
• Subscriptions at the repo window stood at Rs 21,680 crore.