Markets Report

Money market

Sentiment: Bullish

• Gilt prices slid on profit-taking as players who had built huge positions last week did not found few buyers.
• Prices of long- and medium-term papers fell by 10-30 paise.
• The price of ten-year benchmark security, 7.27 per cent 2013, crashed by 9-10 paise. Yield on this paper closed at 5.11 per cent.
• Call money rates hovered around 4.40-4.50 per cent.
• Suscriptions to one-day and 14-day repos stood at Rs 31,000 crore.

Forex market

Sentiment: Moderate

• The rupee ended lower at 45.6350/6450 per dollar on dollar buying by nationalised banks.
• The six-month forward dollar traded at discount of 0.01 per cent due to shortage of cash dollars and roll over of forward contracts.

Outlook

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The spot rupee is expected to open on Tuesday at 45.60/65 per dollar.