Re slips to 43.74/$, gilts steady

MARKETS REPORT

Forex market

Outlook
The spot rupee is expected to open in the range of 43.70/74 to a dollar.

Sentiment: Dull

The spot rupee opened at 43.69/70 on Tuesday, but closed lower at 43.73/74 following demand from an oil company.

Forward dollar premiums remained flat with the six-month and one-year at 1.76 per cent and 1.40 per cent, respectively.

Money market

Sentiment: Bearish

Gilt prices moved in a range of 5-7 paise amid lacklustre trading on Tuesday.

The 10-year benchmark 7.38 per cent 2015 paper closed at 7 per cent.

Call rates ruled at 4.70/75 per cent, while reverse repo bids were at around Rs 31,000 crore.

The market sentiment remained cautious and bearish with the forthcoming auction.

The corporate bonds market remained dull.