Re ends at 44.44/$

MARKETS REPORT

Outlook:
The spot rupee is expected to open in the range of 44.41/44 against the greenback.

Sentiment: Bullish

Moderate FII inflows led the spot rupee to reach an intraday high of 44.35 after opening at 44.41/42 and closing at 44.43/44 to a dollar.

The premium on forward dollars for six-month and one-year closed at 2.66 per cent and 2.11 per cent.

Money market

Sentiment: Bearish

The prices of government securities rallied during the day after global oil prices eased from $64 a barrel to $61.30. However, tight liquidity situation triggered a selling bout at the end of the day.

The 8.07 per cent 2015 gilt closed at 7.37 per cent. Liquidity was firm with call rates ruling around 7/7.25 per cent.

Market players borrowed around Rs 26,000 crore from the market.

Corporate bond market remained lacklustre.