Re ends marginally higher at 45.74/$

MARKETS REPORT

Outlook:
The spot rupee is expected to open in the range of 45.69-75 to a dollar.

Sentiment: Bullish

The spot rupee opened at 45.74/75 and closed around similar levels at 45.73/74, after reaching an intraday high of 45.65/66 to a dollar.

The annualised premium for six-month and one-year forward dollars closed at 1.44 per cent and 1.41 per cent, respectively.

Money market

Sentiment: Bullish

Falling crude prices and comfortable liquidity resulted in buying demand for government securities.

Prices of gilts moved up by 15-20 paise across maturities.

The yield on the 10-year paper closed at 7.59 per cent.

Call rates softened to 6.20 per cent and rates in CBLO reached below 6 per cent.

The RBI mopped up around Rs 24,000 crore from the market.

Apprehension of an auction announcement weighed heavy on market sentiment.