G-sec Market: The benchmark 10-year security 6.05% GOI 2019 opened at Rs98.25 implying a yield of 6.29% lower than previous close of 6.37%. RBI announced G-sec auction worth Rs12,000 crore to be held on 8 May 2009.
The securities on offer are 6.05% GOI 2019(FEB) for Rs6,000 crore, 8.24% GOI 2027 for Rs3,000 crore and 6.83% GOI 2039 for Rs 3,000 cr. The G-sec yields are likely to be volatile and trade in the range of 6.20% – 6.35%.
Money Market: The Call rate and CBLO rate opened at 3.25% and 2.25% respectively. The money market rates are expected to remain soft tracking adequate liquidity in the system.
Swap Market: The 5Y OIS swap rate opened at 5.43% compared to previous closing levels of 5.47%. The OIS swap rates are expected to be volatile track the movement in G-sec yields.
Forex Market: The INR opened at Rs49.60 against the USD compared to previous closing level of Rs49.91. Rupee is expected to trade in the range of 49.40 – 49.90.