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Indian Markets Closed For Muharram

Indian markets remain closed today on account of Muharram.

Local markets gave up earlier gains to end lower for the third day running on Wednesday as trade worries persisted on the global front and investors increased their bets that the RBI will increase interest rates at least two more times this year to shore up the battered rupee.

The benchmark BSE Sensex ended the session down 169.45 points or 0.45 percent at 37,121.22, while the broader Nifty index dropped 44.55 points or 0.39 percent to 11,234.35.

The rupee, meanwhile, rebounded by 61 paise to close at 72.37 per dollar, its best single-day gain in 18 months, on the back of heavy dollar selling by banks as the greenback weakened in overseas markets.

Asian markets rose today to extend Wednesday's gains as investors set aside trade concerns. Oil prices rose for a third day on supply concerns while the U.S. dollar fell against its peers after reports that the U.S. and Canada are unlikely to reach a deal on Nafta in Washington this week.

Overnight, U.S. stocks ended mixed as investors took escalating trade tensions in their stride and looked ahead to next week's Federal Reserve meeting for directional cues.

The Dow rose 0.6 percent as rising treasury yields helped lift banks. The S&P 500 inched up 0.1 percent while the tech-heavy Nasdaq Composite slid 0.1 percent.

European markets closed higher for a second day running on Wednesday, helped by gains in mining and auto stocks.

The pan-European Stoxx Europe 600 index advanced 0.3 percent. The German DAX rose half a percent, France's CAC 40 index climbed 0.6 percent and the U.K.'s FTSE 100 added 0.4 percent.

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