Rupee gains on drop in crude prices, firm stocks

MUMBAI (Reuters) - The rupee gained on Wednesday, helped by a rally in local stocks which raised expectations of some capital inflows, with lower oil prices also helping sentiment.

* At 2.05 p.m. the partially convertible rupee was at 43.11/12 per dollar, higher than Tuesday's close of 43.26/27. It hit a 15-month low of 43.50 last week.

* India's main share index was up more than 4 percent, after global oil prices fell and on hopes the government would be able to revive stalled economic reforms after Left allies pulled out of the ruling coalition.

* Oil was trading just below $138 a barrel. It had hit a record high of $145.85 a barrel last week.

* The communist parties that have provided India's government with a parliamentary majority for four years said on Tuesday they were withdrawing their support to protest a civilian nuclear energy deal with the United States.