Re ends flat, Gilts continue to tumble

MARKETS REPORT

Forex market

Outlook: The rupee is expected to open in the range of 45.85-45.90 against the greenback on Monday.

Sentiment: Dull

• The rupee opened at 45.87/90 per dollar and ended flat at 45.87. It touched a high of 45.85 and a low of 45.95 in intraday trades.
• Premiums on forward dollars slipped on receiving interest by bank. Annualised premiums on six-month and one-year dollars closed at 1.64 per cent and 1.5 per cent respectively.

Money market

Sentiment: Bearish

• Government security prices tumbled even as headline inflation stood at 5.87 per cent, lower than widely expected 6.10 per cent.
• Prices of long-term securities slid by 30-40 paise, while those of medium-term gilts lost 20-25 paise.
• Yield on the ten-year benchmark paper, 7.37 per cent 2014, ended at 5.78 per cent as against 5.86 per cent on Thursday.
• Call money rates ruled in the range of 4.00-4.25 per cent.
• Repo subscriptions stood at Rs 10,735 crore.