G-sec Market: The 10-year G-sec 6.90% GOI 2019 opened at a yield of 6.88%, lower than previous closing levels of 6.91%. The yields eased tracking US Treasury yields. The benchmark 10-year US Treasury eased from 3.63% to 3.50%.
RBI’s announcement of OMO purchases worth Rs6,000 crore aiding the market sentiment.
The markets would look forward to cut-offs in T-Bill Auctions worth Rs 9,500 crore. The 10-year G-sec 6.90% GOI 2019 is likely to trade in the range of 6.85% - 6.93%.
Money Market: The Call rate and CBLO rate opened at 3.25% and 3.00% respectively. The money market rates are expected to remain soft tracking comfortable liquidity position.
Swap Market: The 5Y OIS swap rate traded in the range of 6.25% - 6.30%, compared to previous closing levels of 6.36%. The OIS swap rates are expected to trade rangebound tracking movement in G-sec yields.
Forex Market: The INR opened at Rs48.44 against the USD similar to previous closing level of Rs 48.44. Rupee is expected to trade in the range of 48.20 – 48.70.