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Outlook:
The spot rupee is expected to rule in the range of 44.24-29 to a dollar. |
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| Sentiment:Bullish |
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| Rebound in the equity market improved sentiment, but did not result in major inflows. The spot rupee remained flat by opening at 44.27/28 and closed around 44.26/2650 to a dollar. The annualised premium for six-month forward premium closed at 3.23 per cent. |
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| Money Market |
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| Sentiment: Bearish Amid the panic of monetary measures, buyers settled down for bottomfishing towards the end of the trading session. Prices of government securities moved up by 20-25 paise across maturities. The yield on 10- year paper closed at 7.94 per cent. n Liquidity was abundant with the call rates hovering around 6/6.05 per cent. The Reserve Bank of India (RBI) absorbed around Rs 30,000 crore from the market through reverse repo. Market expects inflation figure to rule lower this week. |
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