Re closed at 44.23/$

MARKETS REPORT

Forex market

Outlook: The spot rupee is expected to open in the 43.20/24 band against the dollar on Wednesday.

Sentiment: Bearish

The spot rupee opened at 43.13/14 and ended at 44.22/23 against the greenback

Six-month and one-year dollar forwards closed at 0.90 per cent and 0.76 per cent, respectively

Money market

Sentiment: Dull

Prices of government securities remained flat across maturities

Foreign banks sold gilts heavily but the same stocks were picked up by primary dealers

The ten-year paper closed the day at 7.14 per cent

Call rates remained comfortable at 5.05 per cent with reverse repo bids at Rs 23,215 crore

The corporate bond market remained lacklustre