Markets Report

Money market

Sentiment: Bullish

• Government securities prices rose on hopes of oversubsription of the 15-year paper to be auctioned on February 26.
• Dealers felt institutions and banks will lap up the issue as it is supposedly the last auction of this fiscal and the market expects the cut-off yield at 5.78 per cent.
• Prices of long-term papers moved up by 10 paise and those of medium-term securities climbed by 5 paise.
• The yield on the ten-year benchmark gilt closed lower at 5.23 per cent.
• Call rates ended at 4.30-35 per cent.

Forex market

Sentiment: Bullish

• The rupee opened at 45.27/28 per dollar and ended at a week's high of 45.24/25.
• Forward premiums went up. Annualised premiums on six-month and one-year dollars closed at 0.40 per cent and 0.48 per cent respectively.

Outlook

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The rupee is expected to open in the range of 45.23-45.28 per dollar.