Re ends at 44.18/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 45.14-18 to a dollar.

Sentiment: Bearish

Due to the demand from crude importers, the spot rupee lost around 10-12 paise in one trading session to close at 45.17/18 after opening at 45.06 and reaching the day's low of 45.28 to a dollar.

Annualised premiums for six-month and one-year forward dollars closed at 1.13 per cent and 1.17 per cent, respectively.

Money market

Sentiment: Bullish

The government securities market rallied with the RBI keeping base rates unchanged in its annual policy today.

The prices witnessed a net upward movement of 40-50 paise in short and medium-term maturity up to 11 year.

The yield on the ten-year paper closed 10 basis points lower at 7.45 per cent against 7.55 per cent on Monday.

Call rates closed at 5.5 per cent amid abundant liquidity.

The RBI absorbed around Rs 56,000 crore from the market.