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Rupee gains six paise to Rs 42.75 vs $; Sensex sheds 56 points to 3408.69; Nifty down 16 points to 980.70

At the inter-bank foreign exchange market, the Indian rupee closed stronger at 42.74/75 against the US dollar, up six paise from yesterday's close. The rupee opened at Rs 42.78/79.

The forward premia eased a bit. The six-month premium closed at 6.35 per cent and the one-year premium at 7.10 per cent.

Thursday's trading in the stock markets turned volatile and major indices posted early gains on news that the Budget has been passed by Parliament. The mid-session saw equities sliding steadily as stocks were offloaded by speculators at many counters.

At the Bombay Stock Exchange, the Sensex slipped 55.85 points to close at 3408.69. At the National Stock Exchange, the Nifty was down 15.95 points at 980.70.

Some of the key shares recorded mixed results for the day. Hindustan Lever closed at Rs 2180, up 25 paise. Infosys closed at Rs 2695, down Rs 25, Ranbaxy was at Rs 572.75, up Rs 36.50, Novartis closed at Rs 803, up Rs 23, ACC closed at Rs 1510, down Rs 6.75. Hindalco closed at Rs 587, down Rs 38 and ITC was at Rs 930, down Rs 27.

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