Gold Silver Reports (GSR) – Market players will be watching out for inflation and industrial production data today which due at about 5:30 pm. Retail inflation is seen at 4.10 percent in March versus 4.44 percent in February, while February factory output data is expected at 6.8 percent versus 7.5 percent in January.
Later in the day Reserve Bank of India will hold underwriting auctions for Rs 12,000 crore of government bonds that will be sold tomorrow. Yield on 10-year debt climbed 16 basis points in yesterday’s session, taking the four-day advance to 41 basis points and erasing most of the gains bonds posted in five days to April 5.
The rupee is seen declining in line with Asian currencies amid a slightly hawkish tilt by the Federal Reserve and speculation the U.S. is poised to strike Syria. Implied opening from forwards suggests onshore spot will start trading around 65.2634 today. – Neal Bhai Reports (NBR)
