Gold Silver Reports (GSR) – Money Market Heads Up! — Indian sovereign bonds are set for a second weekly gain after reports showed the government is in talks with the Reserve Bank of India to raise FII limit in government debt.
Easing inflation and ample liquidity is also supporting the sentiment. Yield on the 10-year note fell 5 basis points in the last session on the news. It may trade in a range of 6.58-6.65 percent in the session. Just to recap, yields are down 4 basis points this week.
In the currency market, implied opening from forwards suggest rupee will start trading slightly weaker from the last close of 64.93 a dollar.
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The currency meanwhile is headed for its best week since end January. The rupee has gained 0.4 percent in the last four days. Traders see it trading between 64.80-65.10 a dollar in the day. – Neal Bhai Reports
