Markets Reports

Money market

Sentiment: Bearish

Gilts remained rangebound. Long tenor papers fell by almost 10-15 paise.

The 10-year benchmark paper 9.81 per cent 2013 closed around 5.28 per cent.

Call rates hovered around 4.5 per cent and almost Rs 38,000 crore was accepted in repos.

The OMO was cleared at a cut off yield of 5.80 per cent against a market yield of 5.78-79 per cent, the state government papers got subscribed at 50 basis point spread to the 10-year benchmark yeild of 5.28 per cent.

Corporate bond papers remained flat today.

Market expects fresh buying to surface in a few days.

 

Forex market

Market Sentiment: Moderate

The spot rupee closed at 45.83/84 after reaching lows of 45.85.

Forward premiums went up sharply. While six-month closed at 1.35 per cent, one year inched up to 1.40 per cent.

Outlook

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The spot rupee is expected to open at 45.83/85 against the dollar today.