Re ends with a gain at 43.42/$

MARKETS REPORT

OUTLOOK
The spot rupee is expected to open in the range of 43.40/44 to a dollar.

Sentiment: Bullish

The spot rupee opened at 43.47 and closed at 43.42 before reaching the day's high of 43.38 to a dollar.

Forward dollars remained rangebound with the six-month and one-year premiums closing at 1.4 per cent and 1.27 per cent respectively.

Money market

Sentiment: Bullish

Gilts remained rangebound with prices across maturities trading in a band of 7-10 paise.

Call rates were at 4.90/5 per cent, whereas reverse repo bids were at around Rs 24,600 crore.

The yield on 10-year paper closed flat at 7.22 per cent, while the 12- year paper closed at 7.45 per cent.

The corporate bond market remained lacklustre.

Brisk trading was seen in treasury bills .