Markets Reports

Money market

Sentiment: Bearish

• Reports of launch of market stabilisation bond in the current fiscal pulled down the government security prices.
• Prices of long- and medium-term securities fell by 10-15 paise
• The yield on the ten-year benchmark gilt closed higher at 7.23-24 per cent.
• Call money rates ended at 4.40-50 per cent.
• Subscriptions at the repo window stood at Rs 38,000 crore.

Forex market

Sentiment: Bearish

• The rupee opened at 45.2250/23 per dollar, but ended lower at 45.25 on central bank intervention.
• Near-month forward dollars traded at discount. Annualised premium on six-month and one-year dollar stood at 0.46 per cent and 0.5 per cent respectively.

Outlook:

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The rupee is expected to open between 45. 24 and 45.27 per dollar.