G-sec Market: The benchmark 10-year security 6.05% GOI 2019 (FEB) opened at Rs95.40 implying a yield of 6.70%, higher than previous close of 6.66%.
The markets are expected to remain bearish tracking RBI announcement of G-sec auction worth Rs 15,000 crore. RBI had announced that auction amount would be increased from Rs 12,000 crore to Rs 15,000 crore for auctions held during time period May 15-29, 2009.
The auction would be held on June 5, 2009. The G-sec yields are likely to trade rangebound between 6.60% – 6.70%.
Money Market: The Call rate and CBLO rate opened at 3.25% and 2.70% respectively. The money market rates are expected to trade rangebound tracking comfortable liquidity position.
Swap Market: The 5Y OIS swap rate opened at 6.37% compared to previous closing levels of 6.36%. The OIS swap rates are expected to trade rangebound tracking the movement in G-sec yields.
Forex Market: The INR opened at Rs46.94 against the USD compared to previous closing level of Rs46.95. Rupee is expected to trade in the range of 46.75 – 47.25.
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