Re ends at 46.76/$

MARKETS REPORT

Forex market

Outlook
The spot rupee is expected to open in the range of 46.64-70 to a dollar on Monday

Sentiment: Bullish

The spot rupee opened at 46.80/81 but closed at a high of 46.76/77 following dollar weakening against all major currencies.

The annualised premium on six-month and one-year forward dollars closed at 0.85 per cent and 1.05 per cent, respectively.

Money market

Sentiment: Bullish

Prices of government securities moved up by 30-40 paise as the market expected the RBI to cancel the auction.

The yield on the 10-year paper closed at 8.25 per cent .

Call rates ruled around 5.75/85 per cent with the RBI absorbing around Rs 44,000 crore.

Corporate bond market witnessed trading interest from banks and provident funds.

The government today announced the auction of 7.55 per cent 2010 to raise Rs 4000 crore on July 27.