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Sensex, Nifty Seen Flat To Higher

Indian shares look set to open marginally higher on Wednesday after five straight sessions of losses. That said, growing fears over the PNB scam and continued selling pressure from FIIs on expectations of faster than anticipated interest rate hike in the U.S. may keep underlying sentiment cautious.

Benchmark indexes Sensex and the Nifty fell more than 1 percent on Tuesday to extend losses for the fifth straight session, while the rupee surged by 16 paise to close at a fresh one-week high of 64.96 per dollar.

Asian stocks are trading mixed after North Korea stated its willingness to denuclearize and White House economic adviser Gary Cohn announced his resignation over more aggressive trade policies.

Safe-haven assets such as gold and the yen strengthened while oil prices fell as the dollar slumped on fears that U.S. President Donald Trump may risk a trade war.

Overnight, U.S. stocks finished modestly higher as geopolitical tensions eased and President Trump's trade rhetoric faced opposition from key Republicans such as House Speaker Paul Ryan.

The Dow closed marginally higher, while the S&P 500 rose 0.3 percent and the tech-heavy Nasdaq Composite advanced 0.6 percent.

European markets also ended Tuesday's session on a firmer note as concerns over a potential trade war and the political uncertainty in Italy began to ease.

The pan-European Stoxx Europe 600 index edged up 0.1 percent. The German DAX inched up 0.2 percent, France's CAC 40 index rose 0.1 percent and the U.K.'s FTSE 100 added 0.4 percent.

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