Gilts bounce back

Forex market

Outlook:
The rupee is expected to open between 45.35 and 45.40 against the greenback on Thursday.

Sentiment: Bearish

• The rupee opened at 45.37/39 per dollar and closed at 45.38/40. It touched an intraday high of 45.29 on dollar sales by exporters.
• Discounts on forward dollars widened. Annualised discount on six-month and one-year dollars closed at 1.15 per cent and 0.54 per cent, respectively.

Money market

Sentiment: Moderate

• Government security prices bounced back from Tuesday's levels.
• Prices of long-end securities went up by 20 paise, while those of medium-term securities inched up by 15 paise.
• The yield on the ten-year benchmark paper, 7.37 per cent 2014, closed at 5.18 per cent.
• Call money rates ended unchanged at 4.25-4.50.
• Subscriptions at the RBI's repo window stood at Rs 11,340 crore.