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Sensex, Nifty To Open Lower In Cautious Trade

(RTTNews) - Indian shares may open a tad lower on Thursday after sharp gains in the previous session.

Banks could be in focus after the government approved a capital infusion of Rs 48,239 crore into 12 public sector banks.

IT stocks may also see some action after industry lobby Nasscom said it would stop giving its annual revenue growth guidance for the IT-BPM industry, keeping up with the changing macro factors and technology shifts in the industry.

Benchmark indexes Sensex and the Nifty jumped over 1 percent on Wednesday to snap recent string of losses.

The rupee broke a four-day losing streak to end up by 23 paise at 71.11 against the dollar amid easing oil prices and on optimism surrounding the ongoing U.S.-China trade talks.

Asian stocks are trading mixed this morning as the minutes of the Jan. 29-30 meeting of the FOMC highlighted global economic challenges.

Gold prices held firm near 10-month highs and the dollar held steady while oil drifted lower on API data showing an unexpected crude stock build.

Overnight, U.S. stocks edged higher as minutes of the latest Federal Reserve meeting indicated a patient approach to raising interest rates.

The Dow and the S&P 500 rose around 0.2 percent while the tech-heavy Nasdaq Composite inched up marginally.

European markets ended solidly higher on Wednesday as hopes for a China-U.S. trade deal continued to build and the U.K. faced more turmoil with the resignation of three government MPs over Brexit.

The pan European Stoxx 600 gained 0.7 percent. The German DAX climbed 0.8 percent, while France's CAC 40 index and the U.K.'s FTSE 100 added around 0.7 percent.
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