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Sensex, Nifty Set For Cautious Start

Indian shares may open lower on Monday as investors await cues from the quarterly earnings season and key macro-economic data points due this week.

IT major Tata Consultancy Services will unveil its Q1 earnings on July 9 while Infosys, IndusInd Bank, Hathway and Karnataka Bank are the other prominent companies scheduled to announce their financial results this week.

On the data front, industrial output and consumer inflation data will be released on July 12.

Asian markets slipped into the red this morning, with investors shifting focus to developments in Turkey after the country fired its central bank governor and replaced him with the bank's deputy governor.

Investors also await Fed Chair Jerome Powell's testimony to Congress on Wednesday and Thursday for further cues on the outlook for monetary policy.

U.S. stocks fell from record highs on Friday, Treasuries tumbled and the dollar strengthened as a strong monthly jobs report dented hopes for a near-term interest rate cut by the Federal Reserve.

The Dow and the S&P 500 slid around 0.2 percent, while the tech-heavy Nasdaq Composite edged down 0.1 percent.

The latest jobs report showed that U.S. employment surged up by 224,000 jobs in June after edging up 72,000 jobs in May. Economists had expected employment to increase by about 160,000 jobs.

European markets fell on Friday, with dismal German industrial orders data and fading hopes of a rate cut by Fed weighing on markets.

The pan European Stoxx 600 shed 0.7 percent. The German DAX and France's CAC 40 declined around half a percent while the U.K.'s FTSE 100 gave up 0.7 percent.

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