Re flat, Gilts slide on profit booking

MARKETS REPORTS

Forex market

Outlook
The rupee is expected to open in the range of 45.30-35 against the greenback on Tuesday.

Sentiment: Dull

• The rupee hardly budged after opening at 45.33/34 per dollar. It closed flat at 45.32/34 after moving up by 2-3 paise.
• Annualised discounts on six-month and one-year dollars closed flat at 0.66 per cent and 0.30 per cent respectively.

Money market

Sentiment: Bullish

• Eventhough the new government has put fiscal consolidation on its agenda, government security prices slid on profit booking.
• Prices of long-term gilts declined by 10-15 paise, while those of medium-term securities dipped by 5-7 paise.
• The yield on the ten-year benchmark, 7.37 per cent 2014, closed at 5.18 per cent.
• Call money rates remained soft.
• Repo subscriptions stood at Rs 24,000 crore.