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Sensex, Nifty Seen Flat Amid Weak Global Cues

Indian shares may open on a flat note on Monday, tracking weak global markets after a report that Michael Flynn, Donald Trump's former national security adviser, pleaded guilty to lying to federal agents about conversations with the Russian ambassador last December during the presidential transition.

U.S. stocks fell sharply before closing off their off day's lows on Friday, with the major averages closing down between 0.2 percent and 0.4 percent.

Asian stock markets are broadly lower this morning despite new Republicans in the U.S. Senate passing a bill to overhaul the country's tax system.

Gold dipped and the dollar gained ground against its rivals while oil prices fell on data showing a rise in U.S. rig count last week.

Closer home, the Reserve Bank of India reviews its monetary policy on Dec 6, but no major changes are expected amid rising inflationary pressures.

Investors also eye political developments in Gujarat as the state goes into first phase of elections, with the results likely to be declared on December 18.

On the macro front, services sector activity data is slated to be released this week.

Benchmark indexes Sensex and the Nifty fell around 2.5 percent each last week as concerns surrounding rising oil prices and widening fiscal deficit overshadowed encouraging GDP data for the September quarter.

Infosys shares could be in focus today after the surprise appointment of Salil Parekh as CEO and MD of the company.

Biocon has received FDA approval for Trastuzumab, a biosimilar to Herceptin jointly developed with Mylan.

Dr. Reddy's Laboratories has received the Establishment Inspection Report from the US Food and Drug Administration for its CPS facility in Telangana.

by RTTNews Staff Writer

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