G-sec Market: The benchmark 10-year security 6.05% GOI 2019 opened at Rs98.90 implying a yield of 6.20% slightly higher than previous close of 6.18%. The yields are expected to ease tracking RBI’s Monetary Policy decision to ease policy rates.
The markets sentiment is further aided by RBI’s announcement to conduct OMO worth Rs6,000 crore, slated to be held tomorrow.
The market participants would also be looking forward to cut-offs in T-Bill auction to be held today. The G-sec yields are likely to range between 6.0% - 6.20%.
Money Market: The Call rate and CBLO rate opened at 3.30% and 2.60% respectively. The money market rates are expected to remain easy tracking surplus liquidity situation.
Swap Market: The 5Y OIS swap rate opened at 5.24% compared to previous close of 5.23%. The OIS swap rates are expected to trade rangebound, tracking movement in G-sec yields.
Forex Market: The INR opened at Rs50.30 against the USD compared to previous closing level of Rs50.45. Rupee is expected to trade in the range of 50.10 – 50.60.
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