Markets Report

Money market

Sentiment: Bearish

• Gilt prices slid across all the maturities after the RBI's announcement of open market operations.
• While the prices of long-term securities fell by almost 80 paise, those of the medium term slipped by 50-60 paise.
• The yield on the ten-year benchmark paper, 7.27 per cent 2017, closed at 5.12 per cent.
• Call money rates closed at 4.25-4.50 per cent.
• Subscriptions at the repo window stood at Rs 27,000 crore.

Forex market

Sentiment: Bullish

• The rupee ended lower at 45.6000/6150 per dollar on dollar buying by state-run banks.
• Forward premiums dipped on cash dollar shortage. The annualised premiums of six-month and one-year dollars closed at 0.01 per cent and 0.19 per cent respectively.

Outlook

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The rupee is expected to open in the range of 45.5200/5800 per dollar on Thursday.