Re ends lower at 46.09/$

MARKETS REPORT

Forex market

Outlook
The rupee is expected to open between 46.03 and 46.08 against the greenback on Tuesday.

Sentiment: Bullish

• The rupee opened at 45.85/87 per dollar and closed lower at 46.08/10 on dollar demand from corporates.
• Premiums on forward dollars declined. Annualised premiums on six-month and one-year dollars closed at 1.87 per cent and 1.61 per cent respectively.

Money market

Sentiment: Bullish

• Government security prices rose as investors awaited clarification on transaction tax.
• Prices of medium-term gilts slipped by 30-35 paise in morning trades, but bounced back during the end of the session.
• The yield on the ten-year benchmark paper, 7.37 per cent 2014, closed lower at 5.83 per cent.
• Call money rates ended at 4.20-4.30 per cent.
• Trading in the corporate bond market was lacklustre.