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Sensex, Nifty Seen Opening Marginally Higher

Indian shares may open higher on Monday, although worries over rising oil prices, rupee weakness and fiscal deficit concerns may limit the potential upside.

Benchmark indexes Sensex and the Nifty fell around 2 percent last week to clock their worst five-day fall in nearly four months as the quarterly numbers of many prominent companies disappointed investors.

Cement and realty stocks could be in focus today amid expectations the GST Council will likely slash tax on cement to 18 percent from 28 percent and also consider a recommendation on housing that advocates 5 percent GST in under-construction properties and 3 percent GST for affordable housing.

Asian stocks remain broadly higher this morning as investors pinned hopes for progress in the Sino-U.S. trade talks and awaited more policy stimulus from major central banks. The dollar held marginally weak while oil hovered near three-month highs.

U.S. stocks ended mostly higher on Friday after a statement from the White House said high level U.S.-China trade talks led to "progress between the two parties" but "much work remains."

The White House said the U.S. hopes to see additional progress as discussions at the ministerial and vice-ministerial levels continue in Washington this week.

The Dow jumped 1.7 percent and the tech-heavy Nasdaq Composite rose 0.6 percent to reach their best closing levels in three months while the S&P 500 rallied 1.1 percent to close at a two-month high.

President Trump declared a national emergency Friday, appropriating $8.1 billion dollars, including $6 billion from the Pentagon, to build a wall along the southern border.

He also signed a bipartisan spending deal that kept the government open and allocated another $1.375 for adding barriers to another 55 miles of the border.

European markets ended Friday's session sharply higher, with upbeat corporate earnings reports and comments from an ECB official about a likely fresh round of long-term loans to banks aiding sentiment.

The pan European Stoxx 600 rose 1.4 percent to log its best weekly gain in three and half months. The German DAX surged 1.9 percent, France's CAC 40 index jumped 1.8 percent and the U.K.'s FTSE 100 added 0.6 percent.

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