G-sec Market: The benchmark 10-year security 6.05% GOI 2019 opened at Rs97.05 implying a yield of 6.46% higher than previous close of 6.41%.
The sentiment in markets has turned bearish ahead of G-sec auction scheduled to be held tomorrow.
The market participants would be looking forward to cut-offs in T-bill auction and underwriting commissions for G-sec auction. The G-sec yields are likely to trade rangebound between 6.35% – 6.50%.
Money Market: The Call rate and CBLO rate opened at 3.25% and 2.70% respectively. The money market rates are expected to continue to remain soft tracking substantial liquidity in the system.
Swap Market: The 5Y OIS swap rate opened at 5.78% compared to previous closing levels of 5.82%. The OIS swap rates are expected to trade rangebound tracking the movement in G-sec yields.
Forex Market: The INR opened at Rs49.25 against the USD compared to previous closing level of Rs49.32. Rupee is expected to trade in the range of 49.00 – 49.70.