Re ends lower at 45.95/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the range of 45.93-98 to a dollar on Tuesday.

Sentiment: Bullish

Inflows saw the spot rupee rise to a high of 45.85/86 after opening at 45.90/91 to a dollar but month-end dollar demand saw it close at a low of 45.95/96 to a dollar.

The annualised premium for six-month and one-year forward dollars closed at 1.25 per cent and 1.26 per cent.

Money market

Sentiment: Bullish

Apprehension over the announcement of auction calendar for the second half of the financial year led to lacklustre trading.

Prices of government securities remained rangebound for most of the day, registering a rise of around 3-4 paise.

The yield on the 10-year benchmark paper closed at 7.62 per cent.

The government is reported to have announced a borrowing programme of around Rs 63,000 crore for the second half.

Call rates remained higher around 6.45-6.55 per cent with the RBI absorbing around Rs 13,000 crore from the market.