Re moves up to 43.48/$, gilts decline

MARKETS REPORT

Outlook
The spot rupee is expected to open in the range of 43.46/49 to a dollar on Tuesday.

Sentiment: Dull

The spot rupee opened at 43.52/53 and closed higher at 43.4850 backed by inflows and export sales.

The six-month forward dollar closed at 1.66 per cent, while one-year forward ended at 1.45 per cent.

Money Market

Sentiment: Bearish

Anticipating the state development loan, the gilts market turned bearish.

While prices remained flat across maturities, 8.07 per cent 2017 moved down by 5 paise before gaining back to its opening levels .

The 10-year paper 7.38 per cent 2015 closed at 7.24 per cent, while 8.07 per cent 2017 closed at 7.47 per cent.

Call rates remained comfortable at 4.95 per cent even as the reverse repo bids came down to Rs 20,000 crore.

Corporate bonds market remained lacklustre.