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Markets lap up IIP data

MUMBAI: The markets, down in the morning trade on RBI’s hiking of short-term lending rates, found solace in industrial growth rate for April 2008, with the benchmark Sensex more than recovering the early losses to settle the day higher by nearly 65 points on Thursday. The 30-share Sensex on the Bombay Stock Exchange closed the day at 15250.20, a gain of 64.88 points over Wednesday’s close. The BSE barometer had dropped 437 points in the morning trade and touched a low of 14747.99.

The rupee on Thursday appreciated against dollar by over three paise to quote at 42.8350 after the Reserve Bank hiked the repo rate by 0.25 per cent to contain the inflation. At the interbank foreign exchange market, the rupee resumed remarkably higher at 42.75/77 against Wednesday’s close of 42.86/87 a dollar. — PTI

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