Rupee up after rate hike, stocks reverse gains Posted: 29 Jul 2008 03:23 AM CDT MUMBAI (Reuters) - The Indian rupee rose from one-week lows on Tuesday after the Reserve Bank of India (RBI) aggressively tightened policy to rein in double-digit inflation, but heavy losses in local shares and strong dollar demand reversed gains.

Equity markets slump after central bank hikes repo rate Posted: 29 Jul 2008 03:02 AM CDT Mumbai, July 29 (IANS) Indian equity markets slumped Tuesday after the Reserve Bank of India raised the repo rate by 50 basis points at its monetary policy announced late in the morning. Capital goods, realty and banking stocks were under heavy selling pressure.

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