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Sensex, Nifty To Open On Positive Note

Indian shares look set to open notably higher on Monday after BJP stamped its footprint decisively across the Northeastern region, making a history in Tripura, staking claim to form a coalition government in Nagaland and hoping to be kingmaker in a regional alliance in Meghalaya.

The good show in assembly polls helped cement investor expectations that
Prime Minister Narendra Modi will return to power after the 2019 Lok Sabha polls.

That said, tightening liquidity in the banking system, fears of a global trade war and continued selling by foreign investors may prompt traders to book profits at higher levels.

Benchmark indexes Sensex and the Nifty closed marginally lower last week as PSU bank-related developments overshadowed upbeat GDP data.

Asian stocks are trading broadly lower this morning, with fears of a potential trade war, disappointing services sector data from China and worries that Italy's national elections could deliver an anti-establishment government keeping investors nervous.

Gold prices rose and the dollar weakened while oil climbed ahead of a meeting between OPEC and U.S. shale firms.

U.S. stocks bounced well off their session lows to close mixed on Friday, helped by a sharp rise in healthcare shares. The Dow dropped 0.3 percent while the tech-heavy Nasdaq Composite rallied as much as 1.1 percent and the S&P 500 added half percent.

European markets tumbled on Friday amid fears of an impending trade war after U.S. President Donald Trump announced plans to impose new tariffs on steel and aluminum imports.

The pan-European Stoxx Europe 600 index slumped 2.1 percent. The German DAX lost 2.3 percent, France's CAC 40 index fell 2.4 percent and the U.K.'s FTSE 100 declined 1.5 percent.

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