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Indian Shares Seen Opening On Flat Note

Indian shares are seen opening on a cautious note Wednesday as investors react to macroeconomic data and watch the latest developments on coronavirus vaccine rollout.

India's consumer price inflation slowed more than expected in December, figures from the statistics ministry showed.

The consumer price index rose 4.59 percent year-on-year following a 6.93 percent increase in November. Economists had forecast 5.28 percent inflation.

Another report revealed that India's industrial production decreased more than expected in November.

Industrial output fell 1.9 percent from the same month in the previous year, while economists had forecast a decline of 0.4 percent. In November 2019, production grew 2.1 percent.

Meanwhile, the first stage of the rollout of the vaccines against the coronavirus began on Tuesday with Serum Institute of India - the manufacturer of Oxford University's Covishield - shipping out its first lot of vials.

Benchmark indexes Sensex and the Nifty rose about half a percent on Tuesday to hit fresh record highs, while the rupee gained 15 paise to close at 73.25 against the U.S. dollar.

Asian markets started the day in a muted fashion amid rising coronavirus cases worldwide, while gold edged up as a recent rally in the U.S. dollar and Treasury yields hit a pause.

Oil extended gains, with U.S. crude futures rising for the seventh day running, after industry data showed a further drop in inventories.

U.S. stocks finished slightly higher overnight as the earnings season loomed and House Democrats moved to impeach President Donald Trump,

The Dow Jones Industrial Average edged up 0.2 percent and the tech-heavy Nasdaq Composite rose 0.3 percent, while the S&P ended little changed with a positive bias.

European markets ended mostly lower on Tuesday amid disturbing political situation in the U.S., rising Sino-U.S. tensions and climbing coronavirus cases in several countries.

The pan European Stoxx 600 ended flat with a positive bias. The German DAX slid marginally, France's CAC 40 index slipped 0.2 percent and the U.K.'s FTSE 100 shed 0.7 percent.

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