Re steady; 10-yr G-sec yield ends above 7%

Forex market

Outlook
The spot rupee is expected to open in the range of 43.76/79 to a dollar on Monday.

Sentiment: Dull

With a long weekend ahead, the spot rupee remained flat by opening and closing at 43.75/76 to a dollar on Friday.

Forward dollars ruled higher due to corporate demand with the six-month and one-year dollars closing at 1.86 per cent and 1.5 per cent, respectively.

Money market

Sentiment: Bearish

The market continued to reel under the bearish sentiment on Friday.

Despite gilts being sold, prices across maturities remained range-bound.

The yield on the 10-year benchmark 7.38 per cent 2015 paper closed at a high of 7.02 per cent as against 6.96 per cent on Thursday.

Call rates ruled at 4.70 per cent whereas the reverse repo bids were at around Rs 27,000 crore.

The spread between the five-year triple A corporate bond and corresponding gilts is ruling at 40 basis points.