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Sensex, Nifty Seen Up In Cautious Trade

(RTTNews) - Indian shares may open higher on Friday after Wall Street's major indexes notched record highs to open the new year overnight. That said, rising oil prices on the back of Middle East geopolitical tensions may prompt traders to book profits at higher levels as the session progresses.

Banks could be in focus after the Reserve Bank of India (RBI) said it would carry a special simultaneous open market operation to buy and sell government bonds of Rs 10,000 crore each on Jan 6.

Benchmark indexes Sensex and the Nifty jumped around 0.8 percent on Thursday, with underlying sentiment supported by optimism over a U.S.-China trade deal and data showing that India's factory activity expanded at its fastest pace in seven months in December on the back of a jump in new orders.

The rupee, however, dropped by 16 paise to close at 71.38 against the U.S. dollar amid rising oil prices and strengthening of the greenback overseas.

Asian markets are moving higher this morning and the dollar shook off recent weakness, while oil prices surged nearly 2 percent on reports that a top Iranian military general was killed in an airstrike in Baghdad.
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