Money Market

Sentiment: Cautious

The India-Lanka match and war fears saw slack volumes in the gilt and corporate bond markets.

The benchmark 9.81 per cent 2013 gilt closed at Rs 124.69 (6.469 per cent).

Call money continued to be tight and was dealt in the 6.00-6.25 per cent band.

There was routine demand for funds from banks to cover their daily reserve requirements.

Forex market

Market Sentiment: Cautious

The rupee closed a tad higher at 47.6400/6450 as state-run banks sold dollars.

The six months forward premium finished at 3.69 per cent.

Outlook: The rupee is expected to hover around 47.63-47.68. Forward premiums could edge up as war fears linger.