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Sensex, Nifty Seen Opening Higher In Cautious Trade

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Indian shares look set to open a tad higher on Friday despite mixed global cues. Fuel price movements, the direction of rupee and earnings may sway sentiment as the day progresses.

Benchmark indexes Sensex and the Nifty fell about half a percent each on Thursday to extend losses for the third day running, while the rupee ended almost flat at 74.87 against the dollar.

Asian markets held steady this morning after reports indicated that indebted developer China Evergrande Group may meet a key payment deadline.

The dollar traded higher and benchmark 10-year U.S. Treasury yields were slightly off from Thursday's multi-month high of 1.7 percent, while oil extended overnight losses after a forecast that U.S. weather this winter will likely be warmer than average.

Overnight, U.S. stocks rose broadly on economic optimism after data showed initial jobless claims fell to a 19-month low last week and existing home sales rebounded by much more than expected in September.

The tech-heavy Nasdaq Composite gained 0.6 percent and the S&P 500 rose 0.3 percent to extend gains for the seventh straight session and reach a new record close, while the Dow finished marginally lower.

European markets ended in the red on Thursday as investors digested mixed earnings updates and reacted to news about the collapse of a $2.6 billion asset sale at heavily indebted developer China Evergrande Group.

The pan European Stoxx 600 slipped 0.1 percent. The German DAX and France's CAC 40 index both dropped around 0.3 percent while the U.K.'s FTSE 100 shed half a percent.

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