Tuesday, July 13, 1999
Silence of the guns sees Sensex boom 222 points
There were only bulls on the street. For the stock markets, Kargil appeared to be behind and the road for the all-time peak has been cleared of all hurdles. So strong was the bullish fervour that the Sensex opened with a big gap. It opened at 4463.44 points to touch a high of 4588.10 before closing at 4585.63 point.
Rupee bounces back by 10 paise to 43.23
The Indian rupee bounced back to gain 10 paise on Monday to close at 43.2325/2375 as news of the Indo-Pakistan accord to defuse the Kargil crisis impacted the forex market.
RBI to raise Rs 2,500% via 12.32% gilts auction
The Reserve Bank of India (RBI) will raise Rs 2,500 crore on July 25 through the auction of 12.32% Government stock maturing in 2011 (reissued stock). With this, the Goverment will complete 52% of the its budgeted borrowing programme for 1999-2000 of Rs 83,571 crore.
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