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Sensex, Nifty Seen Opening Flat To Higher

Indian shares may open higher on Friday after TCS posted a fourth straight quarter of year-on-year (y-o-y) double-digit revenue growth in constant currency terms and the government eased GST burden on small and medium enterprises.

Infosys, the country's second largest IT services provider, is expected to report marginal growth in profitability for the December quarter later today.

Positive global cues may also offer some support, though the upswing in oil prices remain a concern.

Crude oil futures ended higher on Thursday, extending gains to a ninth successive session, the longest winning streak in about nine years, after reports showing declines in crude output from OPEC and other major producers.

Benchmark indexes Sensex and the Nifty fell around 0.3 percent on Thursday to snap a four-session winning streak, while the rupee closed up by 5 paise at 70.41 against the dollar, snapping its two-session slide.

Asian stocks are up modestly this morning while oil held above $52 a barrel despite easing slightly in early Asian trade. The dollar softened on reduced chances of further rate hikes.

U.S. stocks recovered from early losses to finish higher for the fifth consecutive session on Thursday despite disappointing holiday sales from Macy's, revenue guidance cut from American Airlines and concerns that longer government shutdown will hit the economy.

Meanwhile, Federal Reserve Chairman Jerome Powell predicted no recession in 2019 and said the U.S. central bank will be patient in raising interest rates further.

The Dow and the S&P 500 rose around half a percent while the tech-heavy Nasdaq Composite gained 0.4 percent.

European markets ended Thursday's session on a mixed note as assessments of trade talks between the U.S. and China showed no significant breakthroughs.

The pan-European Stoxx Europe 600 index edged up by 0.3 percent. The German DAX rose 0.3 percent and the U.K.'s FTSE 100 inched up half a percent while France's CAC 40 index dipped 0.2 percent.

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