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Rupee Opens Tad Higher At 71.48

Roshni Agarwal

In Wednesday's session, rupee opened at 71.4825 versus previous session's close of 71.49. Rupee in early trade made an intra day high of 71.41.

On Tuesday, rupee gained amid gains in the equities Also, there has been a case of foreign inflows from Arcelor Mittal to complete the Essar Steel deal which is supporting the rupee.

Oil fell in price today after a report highlighted an unexpected rise in US crude inventories. Nonetheless gains remained capped due to optimism around progress in US-China trade deal.

International benchmark Brent crude futures dropped 19 cents, or 0.3%, to $64.08 a barrel by 0145 GMT on Wednesday. Brent rose about 1% on Tuesday. West Texas Intermediate (WTI) crude futures fell 17 cents, or 0.29%, to $58.24 per barrel.

While the investors' eyes are set on GDP data due to be released on November 29, it is estimated that GDP for the second quarter would come in at 4.6%, its lowest since the third quarter of FY13.

The yield on the 10-year government bonds stood at 6.484%

Meanwhile, Indian indices are set to open on a flat note after reaching a fresh high of 41,120 on the Sensex. In the pre-opening Sensex gained 300 points

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