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Wednesday, Oct 26, 2005
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Market positive; bank stocks surge

Stocks, particularly banking, rallied after the central bank met market expectations with a quarter-percentage-point hike in repo/reverse repo rates and raised the GDP growth forecast to 7-7.5 per cent.

BSE Bankex rose 1.42 per cent and NSE's Bank Nifty rose 1.77 per cent.

The rupee appreciated in trading to Rs 45.06/.07 against the dollar while prices of a few government securities rose by 10 paise.

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