Re ends flat at 45/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 44.98-45.05 to a dollar.

Sentiment: Moderate

The spot rupee opened at 45.02/03 but reached a low of 45.14/15 before closing for the day at 45.00 to a dollar.

The forward premiums on six-month and one-year forward dollars closed at 1.22 per cent and 1.21 per cent, respectively.

Money market

Sentiment: Bearish

The government securities market fell in response to the rise in yields of the US 10-year treasury by 10 basis point from 4.98 per cent to 5.08 per cent.

Prices of gilts fell by 35-40 paise across all maturities. n The yield on 10-year benchmark gilt closed at 7.40 per cent against 7.34 per cent.

Call rates remained easy with the RBI absorbing around Rs 63,000 crore from the market.

Corporate bond market remained lacklustre.