Indian Shares Seen Opening On Cautious Note

(RTTNews) - Indian shares are seen opening on a cautious note Friday after the International Monetary Fund and Group of 20 nations warned that the economic recovery from this year's recession is at risk due to fresh Covid-19 restrictions on households and companies.

Uncertainty over further economic stimulus may also weigh on sentiment after U.S. Treasury Secretary Steven Mnuchin said he does not plan to extend several key emergency lending programs beyond the end of the year and asked the Federal Reserve to return the money supporting them, sparking a rare clash between the central bank and Treasury.

In another development, U.S. President-elect Joe Biden assailed the Trump administration's lack of cooperation on the presidential transition, saying it hindered his team's ability to get up-to-date information on the pandemic.

Benchmark indexes Sensex and Nifty tumbled around 1.3 percent on Thursday amid weakness in global equity markets.

Asian stocks were muted in early deals and the dollar edged lower while oil prices traded mixed.
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