>Debtshell (RELIGARE)

RBI's interest rate review left the key rates unchanged on Tuesday. RBI's
bond auction calendar indicates a total borrowing of Rs. 250 bn up to
March 2009. The announcement on the government borrowings during
this fiscal year pushed up the bond yields higher. The benchmark 10-year
GSec bond yield ended at 5.96%, higher from the previous close of 5.72%
on Friday. The call money rates stood at 4.1-4.2% on Tuesday close to the Saturday's
level of 4.15-4.25%. Ample liquidity has ensured that the call rates move
in line with the Repo rate.
The Indian equity markets staged a sharp gain of 329 points or 3.8% on
the back of stronger global cues. The rupee surged to 48.95/$,
appreciating from the 49.27-29/$ level on Friday.
The Crude ended lower on Tuesday trading close to $42/bbl on the back of
high inventory levels and lower demand. Lack of change in the
fundamentals of the economy pulled down the crude despite the recent
output cuts brought into effect by OPEC.

To see full report : Debtshell 28-01-2009