Offices, shops and other commercial establishments including banks and petrol pumps opened in Srinagar and other parts of the valley after remaining closed for three days.
Transport services also resumed plying on all routes.
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Guru was hanged to death and buried inside Tihar Jail in Delhi on February 9 last year while Bhat met the same fate on February 11, 1984.
Separatists had planned to take out protest rallies in support of their demand for return of mortal remains of Guru and Bhar.
Several Hurriyat leaders were detained while hardline Hurriyat Conference chairman Syed Ali Shah Geelani was put under house arrest as a preventive measure.
Barring some isolated incidents of stone-pelting, the three-day period of agitation by and large passed off peacefully.
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