Re ends lower at 44.13/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 44.10-15 to a dollar on Thursday.

Sentiment: Bullish

The spot rupee opened at 44.10/11, rose to a high of 44.07 before closing for the day at a low of 44.13 against dollar following intervention.

The six-month forward dollars closed lower at 3.06 per cent against 3.33 per cent.

Money market

Sentiment: Dull

Concerns over liquidity and outcome of the forthcoming government security auction led to bearish sentiment.

Prices of most government securities remained flat during the day barring 2-3 paise movement in the benchmark securities.

The yield on 10-year benchmark security closed at 7.75 per cent.

Call rates ruled around 7/7.50 per cent even reaching day's low of 6.75 per cent, while the RBI infused around Rs 4500 crore into the market.

The RBI announced a cut of yield of 7.52 per cent for the 91 day t-bill, while the 182 day t-bill got auctioned at a yield of 7.62 per cent .