Re ends at 46.05/$

MARKETS REPORT

Market sentiment turned bearish over apprehension of higher inflation and hike in reverse repo rate following the oil price hike.

Prices of government securities moved in a narrow band of 10 paise.

Yield on the ten-year gilt closed at 7.67 per cent.

Call rates ruled around 5.5/5.6 per cent with the RBI absorbing around Rs 66,000 crore from the system.

The cut-off yield on 91-day t-bills was 5.73 per cent.