Markets Reports

Money Market

Sentiment: Bearish

• Lack of positive triggers led to massive selling pressure in the market yesterday.
• Prices of gilts in the long term fell by 50-60 paise, while in the medium term it fell by 25-30 paise.
• The 10-year benchmark paper closed at a high of 5.34 per cent.
• Call rates were soft at 4.30-35 per cent and the one-day repo subscriptions stood at Rs 33,000 cr.

Forex market

Sentiment: Bullish

• The rupee opened at 45.24 and reached a high of 45.23 before closing at 45. 28/29 to a dollar.
• The six-month and one-year forward dollars closed at 0.17 per cent and 0.35 per cent respectively.

Outlook

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The spot rupee will open around 45.45.26-29 to a dollar.