Markets Report

Money market

Market Sentiment: Bullish

Prices of long-term gilts have gone up by 5-7 paise as open market operations (OMO) were discounted .

Towards the end of the day, OMO of Rs 12,000 crore was announced by the RBI.

The 10-year benchmark 9.81 per cent 2013 closed at 5.5250 per cent.

Call rates hovered around 4.75 per cent and repo subscriptions touched Rs 20,000 crore.

Less liquid corporate bonds found the flavour for good yield differentials.

Forex market

Market Sentiment: Bullish

The spot rupee opened and closed at 45.89/90 after reaching an intra-day high of 45.95 to a dollar followed by heavy buying by state-run banks.

 

Forward premiums were stable with six-month and one-year premiums closing at 2.05 per cent and 1.88 per cent.

Outlook

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The rupee is expected to open at 45.85/90 to a dollar.