G-sec Market: The most actively traded security 6.07% GOI 2014 opened at Rs98.60 implying a yield of 6.41% higher than previous closing levels of 6.46%. The yields eased tracking RBI announcement of OMO purchases worth Rs7,500 crore.
The US Treasury yields eased adding to the positive market sentiment. The markets would be looking forward to cut-offs in T-Bill auctions worth Rs9,500 crore. 10-year 6.05% 2019 (FEB) closed at 7.06%.
We expect it to trade in the range of 7.00% - 7.05%. The most actively traded security 6.07% GOI 2014 is likely to trade in the range of 6.35% -6.45%.
Money Market: The Call rate and CBLO rate opened at 3.25% and 2.94% respectively. The money market rates are expected to remain easy 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 6.34%. The OIS swap rates are expected to harden tracking movement in G-sec yields.
Forex Market: The INR opened at Rs48.69 against the USD compared to previous closing level of Rs 48.54. Rupee is expected to trade in the range of 48.50 – 48.90.