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Sensex, Nifty Seen Higher At Open

Indian shares may rise at open on Friday, tracking firm cues from other Asian markets after U.S. President Donald Trump said his Chinese counterpart Xi Jinping wrote him a 'beautiful letter' and there is still a chance to salvage trade negotiations to resolve a year-long dispute.

That said, high oil prices, weak quarterly results from Asian Paints, continued weakness in rupee and uncertainty over the outcome of general election might keep underlying sentiment cautious to some extent.

Benchmark indexes Sensex and the Nifty dropped around half a percent on Thursday to settle at two-month lows, while the rupee ended at a two-week low of 69.95 against the dollar.

U.S. stocks ended modestly lower overnight as investors remained worried about a sharp escalation in the U.S.-China trade dispute. The Dow shed half a percent, the tech-heavy Nasdaq Composite slipped 0.4 percent and the S&P 500 eased 0.3 percent.

European markets tumbled on Thursday ahead of U.S.-China trade talks. The pan European Stoxx 600 gave up 1.7 percent.

The German DAX fell 1.7 percent, France's CAC 40 index tumbled 1.9 percent and the U.K.'s FTSE 100 declined 0.9 percent.

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