Re moves up to 44.03/$, gilts rally

MARKETS REPORT

Demand for government securities rose over lower US yields and moderate oil prices

Gilt prices in the medium and long term rose by 15-25 paise

The ten-year 7.38 per cent 2015 paper closed at 7.03 per cent

Calls remained comfortable at 5.05 per cent with reverse repo bids at Rs 26,500 crore

Towards the end of the day, LIC booked profit by selling government securities