Markets Reports

Money market

Sentiment: Bearish

Gilts fell across the board with players gauging the effect of RIB redemption and advance tax outflows.

While long tenors fell 30-40 paise, medium tenors crashed 20 paise followed by short term at 5-10 paise.

The 10- year benchmark 9.81 per cent 2013 closed higher at 5.32 per cent.

Overnights were comfortable at 4.5 per cent and repo subscriptions figured at Rs 18,040 crore.

The market was subdued primarily on account of lack of buying.

Forex market

Market Sentiment: Bullish

Rupee closed around 45.72/73 against the greenback.

Forwards came down with six-month and one-year premiums closing at 1.30 per cent and 1.25 per cent.

 

Outlook

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The spot rupee is expected to open at 45.73/74 to a dollar today.