Re weakens, gilts remain dull

MARKETS REPORT

Forex market

Outlook: The spot rupee is expected to open in the range of 43.71/73 to a dollar on Thursday.

Sentiment: Bearish

• The spot rupee opened at 43.66/67 to a dollar and closed at a low of 43.73/74 after reaching lows of 43.7850 to a dollar during the day.
• Premium on forward dollars closed with six-month and one-year dollars at 0.67 per cent and 0.73 per cent.

Money market

Sentiment: Bearish

• Concern over the domestic oil price hike.
• The government securities market remained lacklustre.
• The most liquid segment up to 10-year maturity moved in a band of 10 paise.
• The ten-year paper 7.38 per cent 2015 closed at 7.07 per cent.
• The call rates remained at 5.05 per cent with reverse repo bids at around Rs 35,000 crore.
• The corporate bond market remained quite.