Markets Reports

Money market

Sentiment: Bearish

• Government security prices took a pasting on concerns over inflation, size of the proposed market stabilisation fund and partial subscription of state government loans.
• Prices of long-term papers sank by 30 paise, while those of medium-term securities coasted by 20 paise.
• The yield on the benchmark 10-year paper ended at 5.3253 per cent compared with 5.2874 per cent on Wednesday.
• Call money rates remained unchaged at 4.00-4.25 per cent.

Forex market

Sentiment: Bullish

• The rupee opened at 45.2750/28 per dollar and closed higher at 45.2650. It touched a low of 45.30 and a high 45.24 in intraday trades.
• Premiums on dollar forwards firmed up. Annualised premium on six-month dollar closed at 0.23 per cent.

Outlook

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The rupee is expected to open between 45.24 and 45.28 per dollar on Friday.