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Stocks that were in focus include names like Ambuja, which fell 4% and L&T, which gained 1% and Dabur, whose shares declined 1.4% on Wednesday.
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Shares in Japan opened slightly lower, weighing down a gauge of Asian equities despite a small gain for shares in Australia. Many of the regions equity markets including China, South Korea and Taiwan remained closed for the Lunar New Year holiday.
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After several months in which inflation data has largely moved sideways, the U.S. central bank dropped from its latest policy statement language saying that inflation "has made progress" towards the Fed's 2% inflation goal, noting only that the pace of price increases "remains elevated."
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News and Media
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