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This is an archive article published on May 26, 2000

Markets end up, off highs on rupee fall

MUMBAI, MAY 25: Share prices turned better on the Bombay Stock Exchange (BSE) today but off their highs due to profit-taking as a decline ...

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MUMBAI, MAY 25: Share prices turned better on the Bombay Stock Exchange (BSE) today but off their highs due to profit-taking as a decline in the value of the rupee to record lows against the dollar led to selling on worries of heavy offloading by foreign funds. The BSE Sensex gained by 65.38 points while the National Stock Exchange Nifty index rose 11.75 points.

Continued buying from local institutions and mutual funds at lower levels forced bear operators to square up their long positions leading to a rally in cyclical scrips and helped the stock market to regain part of its poise. Tobacco-giant ITC was in the limelight, reversing the overnight’s downtrend, following good working results which was in line with the market expectation and helped the Sensex rise.

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