Markets Reports

Money market

Sentiment: Bearish

• Government security prices continued to coast on the news of the launch of market stabilisation bonds.
• They fell across the board by 30-40 paise.
• The yield on the ten-year benchmark security closed at a 5-month high of 5.28 per cent.
• Call money rates ended at 4.30-35 per cent.
• Repo subscriptions stood at Rs 35,000 crore.

Forex market

Sentiment: Bearish

• The rupee opened higher at 45.2350/2450 per dollar but slipped to close at 45.26/2650.
• Corporate demand for dollars yanked up forward premiums. Annualised premium on six-month dollar ended at 0.57 per cent.

Outlook

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The rupee is expected to open in the range of 45.25-45.27 per dollar.