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Sensex, Nifty Seen Opening Flat On Global Cues

Indian shares may open lower on Friday, tracking weak global markets on renewed concerns that the escalating trade dispute between the U.S. and China may weigh on global economic growth.

Investors will keep a close eye on unfolding weather in the country after data released by the India Meteorological Department (IMD) showed that 39 percent of the 681 districts in India have received less than normal rainfall in the week ended August 8.

On the earnings front, DLF, GAIL, Hindalco, SBI and Union Bank of India are among the prominent companies that will unveil their quarterly results today.

Benchmark indexes Sensex and the Nifty rose about 0.2 percent on Thursday to reach fresh record highs while the rupee logged its first fall in three days to end down by 5 paise at 68.68 per dollar.

Asian markets remain broadly lower this morning amid mounting tariff tensions and oil prices fell on concerns about fuel demand while the dollar approached a 13-month high.

Overnight, U.S. stocks ended mixed for a second straight session as investors weighed lingering trade war concerns against largely upbeat corporate earnings news.

The Dow dropped 0.3 percent and the S&P 500 slid 0.1 percent while the tech-heavy Nasdaq Composite inched up marginally.

European markets also ended Thursday's session on a mixed note after struggling earlier in the day as China imposed retaliatory tariffs on U.S. goods.

The pan-European Stoxx Europe 600 index inched up 0.1 percent. The German DAX rose 0.3 percent and France's CAC 40 index finished marginally higher while the U.K.'s FTSE 100 shed half a percent.

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