Re ends at 44.37/$; Gilts fell

MARKETS REPORT

Outlook:
The spot rupee is expected to open in the range of 44.34/37 against the dollar.

Sentiment: Bullish

FII inflows following the government's decision to raise their investment limit in the debt market perked up the sentiment

The spot rupee opened at 44.32 and closed at 44. 36/37 after reaching an intra-day high of 44.30 against a dollar

Premiums on six-month and one-year forward dollars closed at 2.45 per cent and 1.93 per cent, respectively

Money market

Sentiment: Bearish

Gilt prices fell by 30-40 paise today on post budget bearish impact

Apprehension of an auction before the fiscal end and additional supply of Rs 22,000 crore through conversion of special securities weighed down the market

Yield on the 8.07 per cent 2017 paper closed at 7.41 per cent

Call rates eased and closed at 6.65 per cent

Corporate debt market remained lacklustre