G-sec Market: The benchmark 10-year security 6.05% GOI 2019 opened at Rs97.50 implying a yield of 6.40% higher than previous close of 6.31%.
The yields hardened tracking increase in auction amount from Rs 12,000 cr to Rs 15,000 crore scheduled during the period May 15-29, 2009.
Accordingly, RBI announced G-sec auction for 4 securities worth Rs 15,000 cr to be held on 22 May 2009. 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 2.60% respectively. The money market rates are expected to remain easy tracking substantial liquidity in the system.
Swap Market: The 5Y OIS swap rate opened at 5.87% compared to previous closing levels of 5.51%. The OIS swap rates are expected to trade rangebound tracking the movement in G-sec yields.
Forex Market: The INR appreciated and opened at Rs47.55 against the USD compared to previous closing level of Rs47.92. Rupee is expected to trade in the range of 47.10 – 47.80.
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