Gilts rally, Re steady

Select government bonds rallied further on renewed buying boosted by the positive cut-off price at yesterday's bond auctions.

The 7.38% 2,015 bond ended higher at Rs 102.24/30 with the yield falling a notch to 7.07%.

The 8.07% 2,017 paper was quoted sharply higher at Rs 105.04/12 from Rs 104.52/54 yesterday.

Call rates ended at 4.60-4.70%, and the reverse repo bids totalled Rs 31,450 crore.

The spot rupee was up a notch at 43.75 per dollar today.