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Sensex, Nifty Seen Up As RIL Profit Beats Estimates

(RTTNews) - Indian shares look set to open higher on Friday after Reliance Industries' Q1 profit beat estimates and U.S. technology giants Amazon, Apple, Alphabet and Facebook posted stellar earnings, defying one of the worst economic downturns on record.

Indian Oil Corporation, State Bank of India, Sun Pharma, Tata Motors and UPL are among the prominent companies that will unveil their quarterly results later today.

Benchmark indexes Sensex and the Nifty fell around 0.9 percent on Thursday amid mixed global cues and the expiry of July series derivative contracts. The rupee settled four paise lower at 74.84 against the U.S. dollar.

Asian markets are trading mixed this morning, while the dollar continued to slide on renewed concerns about the strength of the American recovery.

Oil bounced back from three-week lows after data showed China's factory activity expanded in July for the fifth month in a row and at a faster pace.

Elsewhere, industrial production in Japan rose a seasonally adjusted 2.7 percent month on month in June, snapping four months of decline.
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