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ndian Shares Rebound On Global Cues
After five days of consolidation, Indian shares rebounded sharply on Tuesday as rate cut hopes gathered steam and firm Asian cues lifted investor sentiment. The rupee rose in opening deals on Tuesday as rising fund flows into debt and higher regional equities boosted sentiment.
Other Asian markets are trading mostly higher this morning on optimism European leaders will tackle their debt crisis after German Chancellor Angela Merkel and French President Nicolas Sarkozy indicated that they have made progress on an agreement to implement new budget rules for the euro zone. The leaders also called on Greece to complete its debt write-down with creditors as soon as possible.
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