Re ends stronger at 44.65/$

MARKETS REPORT

Forex market

Outlook:
The spot rupee is expected to open in the 44.60-44.65 band against the dollar.

Sentiment: Volatile

The spot rupee opened at 44.73-44.74, hit an intra-day low of 44.77-44.78 and closed up at 44.64/65 against the dollar

The annualised premiums for the six-month and one-year forward dollars closed at 2.10 per cent and 2.01

Money market

Sentiment: Bullish

The market remained cautious and witnessed lacklustre trading owing to the auction to be held on Friday

Prices of government securities fell by 5-6 paise in benchmark securities while it remained flat in other papers

Yield on the ten-year paper closed at 7.40 per cent

Call rates ruled around 6.15 per cent with the RBI absorbing around Rs 26,000 crore from the market

The market expects a cut-off yield in the range of 7.60-7.65 per cent for the 8.33 per cent 2036 paper and 7.30 per cent for the 7.37 per cent 2014 stock