Markets Report

Money market

Sentiment: Bearish

• Government security prices tumbled as the cut-off yield of 5.81 per cent on the 15-year debt, auctioned yesterday, topped market expectations.
• Prices of long-term papers dived by 20 paise and those of medium-term securities sank by 10-15 paise.
• The yield on the benchmark 10-year paper closed at 5.25 per cent compared with 5.23 on Wednesday.
• Call money rates ended flat at 4.25-4.50 per cent.
• Susbcriptions at the repo window stood at Rs 35,000 crore.

Forex market

Sentiment: Bullish

• The rupee opened at 45.25/26 per dollar and closed at 45.23/24.
• Forward dollars went up following sell-buy swaps by the RBI. Annualised premiums on six-month and one-year dollars closed at 0.58 per cent and 0.60 per cent respectively.

Outlook

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The rupee is expected to open between 45.24 and 45.27 per dollar.