Rupee improves
Mumbai: The rupee on Thursday closed 3 paise higher at 45.53/54 in its value against the dollar, up from Wednesday's 45.56/57.

The domestic currency opened at similar levels of 45.53/54 and touched a high 45.51 on good dollar inflows, which were sucked away by the central bank, said currency merchants. The currency touched an intra-low of 45.56.
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Markets benefit due to fillip
Mumbai: Fund managers and stockbrokers expect the Government's surprise pre-election sops to give a further fillip to the already buoyant market, says a news report. No one in the market expected an announcement today though there were reports of possible duty cuts on select items before the Budget. The announcement came at the close of the trading hours.

P V K Mohan, head equity, IL&FS AMC, says the reduction in import duty will bring down prices in the near term and is definitely good for the economy as a whole. Anything that results in lower input cost to the processing industry will help reduce inflationary pressures. In the short term, commodity stocks may show a negative trend, as domestic prices will be roughly equal to the import parity price. But this will get corrected over the medium and long term, as lower costs would ensure higher volumes, he said.
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