Re closes higher at 46.33/$

MARKETS REPORT

Forex market

Outlook
The rupee is expected to open between 46.32 and 46.39 against the greenback on Friday.

Sentiment: Bearish

• The rupee opened at 46.35 per dollar and closed higher at 46.33 on benign foreign exchange inflows. It touched an intraday low of 46.38.
• Premiums on forward dollars ended lower. Annualised premiums on six-month and one-year premiums closed at 2.49 per cent and 2.28 per cent respectively.

Money market

Sentiment: Bearish

• Government security prices slid in a volatile session on selling pressure owing to the news that the size of market stabilisation scheme was being pegged at Rs 80,000 crore.
• Prices of long-term securities fell by over Rs 1.50, where those of medium-term paper slipped by 60-80 paise.
• The yield on the ten-year benchmark paper, 7.37 per cent 2014, closed higher at 6.26 per cent.
• Trading in the corporate bonds market was active with buying interest coming in from provident funds and banks.