G-sec Market: The benchmark 10-year security 6.05% GOI 2019 (FEB) opened at Rs95.90 implying a yield of 6.62%, lower than previous close of 6.65%. The yields eased tracking RBI announcement of OMO worth Rs 6,000 crore.
The markets would look forward to cut-offs in T-Bill auctions. The G-sec yields are likely to trade rangebound between 6.55% – 6.65%.
Money Market: The Call rate and CBLO rate opened at 3.25% and 2.75% respectively. The money market rates are expected to trade rangebound tracking comfortable liquidity position.
Swap Market: The 5Y OIS swap rate opened at 6.30% compared to previous closing levels of 6.33%. The OIS swap rates are expected to ease tracking the movement in G-sec yields.
Forex Market: The INR opened at Rs 46.83 against the USD compared to previous closing level of Rs47.03. Rupee is expected to trade in the range of 46.50 – 47.00.