Markets Report

Money market

Sentiment: Bullish

• Prices of gilts remained flat for most of Friday but fell towards the end of session on news of inflation staying high at 6.21 per cent.
• But the buzz that the inflation figure will decline in the next week due to base effect resulted in buying demand.
• The ten-year benchmark paper wound up at 5.12 per cent.
• Call rates were comfortable at 4.35-4.40 per cent, and repo subscriptions were at around Rs 23,000 crore.

Forex market

Sentiment: Bullish

• The spot rupee perked up on moderate inflows and Moody's upgrade to 45.35 per dollar on Friday.
• Forward premiums came off with the six-month and one-year rates closing at 0.60 per cent and 0.54 per cent, respectively.

Outlook

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The spot rupee is expected start the next week's session in the range of 45.36-30 per dollar.