Rupee off lows; IT company sells dollats

Reuters Market Eye - The rupee is off lows on corporate selling, dealers say. The pair at 59.32/33, off 59.45 highs, versus last close at 59.04/05.

Dealers say large Mumbai-based IT company was seen selling dollars.

Local stocks extend losses, down 0.8 percent, providing floor to pair; unlikely to breach 59.50 on upside.

Dealers also cite outflows to the tune of $250 million related to dividend payments by ITC .

(Reporting by Subhadip Sircar)