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Sensex, Nifty Set For Positive Start

(RTTNews) - Indian shares look set to open slightly higher on Tuesday as investors await industrial output and inflation data this week for directional cues. A fall in oil prices overnight may also aid sentiment while the upside could be limited by fresh U.S. threats against China.

Benchmark indexes Sensex and the Nifty rose around 0.4 percent on Monday to extend gains for a second straight session while the rupee surrendered all its early gains to end down by 19 paise at 69.65 against the dollar.

Asian stocks edged higher in cautious trade this morning and the dollar held steady while oil held stable after falling sharply on Monday amid reports that major producers Saudi Arabia and Russia are yet to agree on extending an output-cutting deal.

U.S. stocks rose overnight after the U.S. reached an agreement with Mexico on tariffs and President Trump told CNBC he stands ready to hit China with more tariffs on at least $300bn worth of goods if Chinese President Xi Jinping does not attend a planned meeting at the G-20 summit later this month.

The Dow Jones Industrial Average rose 0.3 percent to extend gains for a sixth straight session and the S&P 500 gained half a percent while the tech-heavy Nasdaq Composite surged 1.1 percent.

European markets ended Monday's session higher as trade tensions eased and Chinese exports data topped forecasts.

The pan European Stoxx 600 inched up 0.2 percent. France's CAC 40 index rose 0.3 percent and the U.K.'s FTSE 100 added 0.6 percent while the German markets were closed for a holiday.
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