Indian rupee to rise on lower oil, stocks cues

MUMBAI, July 9 (Reuters) - The Indian rupee is expected to perk up on Wednesday, as easing global oil prices and a rebound in Asian stock markets calm worries of more capital outflows.

* The partially convertible rupee <INR=IN> ended at 43.26/27 per dollar on Tuesday, a shade stronger than Monday's 43.295/305. It hit a 15-month low of 43.50 last week.

* Asian stocks bounced on Wednesday, after oil fell sharply and the head of the Federal Reserve said efforts to help Wall Street banks may continue for longer, easing fears inflation and the credit could worsen a global slowdown. [ID:nSP26335].

* Oil fell more than $5 on Tuesday, pushing losses so far this week to about $10. [O/R].

* Foreign selling of a net $6.7 billion of stocks this year has weakened support for the rupee, which has fallen 8.9 percent against the dollar so far in 2008.

* 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. See [ID:nISL289893]

* India's main share index ended down 1.3 percent on Tuesday, but the exit of communist parties shored up sentiment on hopes the move would help push reforms. See [.BO] (Reporting by Saikat Chatterjee; Editing by Ranjit Gangadharan)