Re ends flat at 46.53/$

MARKETS REPORT

Forex market

Outlook
The spot rupee is expected to open in the range of 46.50-55 to a dollar.

Sentiment: Dull

The spot rupee opened at 46.54/55 and reached a low of 46.58 before closing at 46.52/53 to a dollar.

The annualised premium for six-month and one-year forward dollars closed at 1.25 per cent and 1.31 per cent respectively.

Money market

Sentiment: Bullish

The market witnessed sustained buying from private and foreign banks to make up for the SLR shortfall.

The yield on the 10-year paper closed at 7.92 per cent.

The softening of oil prices to $70/71 per barrel cheered up sentiment.

Prices across maturities moved by 50-60 paise.

Net buying volumes on negotiated dealing system ( NDS) touched Rs 600-700 crore.

Call rates ruled around 6.05/6.10 per cent with the RBI absorbing around Rs 30,490 crore from the market.