Re ends weaker at 45/$

MARKETS REPORT

Heavy buying by banks led to a rally in prices of government securities.

Prices of long- and medium-term papers went up by 20-40 paise, whereas the short-tenure papers did not witness much movement.

The yield on 10-year paper closed at 7.48 per cent against a close of 7.53 per cent on Friday.

The call rates, after opening at a high of 7.20 per cent, came off to close at a low of 6.30/40 per cent following improved liquidity.

The RBI absorbed around Rs 9700 crore from the market under reverse repo.