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Sensex, Nifty Seen Up On Global Cues

Positive global cues may help Indian shares open higher on Thursday, though underlying sentiment may remain cautious amid concerns over rising oil prices, weakening macroeconomic data and uncertainty ahead of the general election outcome.

India's trade deficit widened to a five-month high in April due to rise in crude oil imports and muted growth in exports, a government report showed.

Oil prices edged up in Asian deals to extend gains for a third straight session as the prospect of mounting tensions in the Middle East stoked fears of potential disruption to supplies.

The poll results will be declared on May 23 while the exit poll numbers will be out on May 19.

Benchmark indexes Sensex and the Nifty ended down around 0.6 percent on Wednesday while the rupee rose by 10 paise to close at 70.34 against the dollar, marking the second straight session of gains.

Asian stocks held steady this morning after U.S. Treasury Secretary Steven Mnuchin said he will likely travel to Beijing soon to continue negotiations with Chinese counterparts.

U.S. stocks rose overnight as reports suggesting that President Trump plans to delay imposing steep tariffs on auto imports helped outweigh a mixed batch of economic data.

The Dow rose half a percent, the S&P 500 gained 0.6 percent and the tech-heavy Nasdaq Composite added 1.1 percent.

European markets also advanced on Wednesday after U.S. President Donald Trump decided to delay imposing tariffs on car imports from EU by up to six months in order to allow negotiations to continue.

The pan European Stoxx 600 inched up half a percent. The German DAX climbed 0.9 percent, France's CAC 40 index gained 0.6 percent and the U.K.'s FTSE 100 added 0.8 percent.

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