Re steady at 43.54/$, gilts rally

MARKETS REPORT

Forex market

Outlook
The spot rupee is expected to open in the range of 43.52/55 to a dollar on Thursday.

Sentiment: Dull

The spot rupee opened and closed at 43.53/54 to a dollar.

Forward premia closed with six month and one year dollars at 1.01 per cent and 0.91 per cent respectively.

Money market

Sentiment: Bullish

Easing of the oil prices perked the market sentiment up resulting in a upward movement in gilt prices. Prices of the government securities across the board moved up in the range 20-30 paise.

The ten year paper 7.38 per cent 2015 closed at 7.06 per cent as against a close of 7.08 per cent.

Call rates ruled at 5/5.05 per cent with reverse repo bids at Rs 38,000 crore.