Sensex, Nifty Seen Lower As US, India Begin Trade Talks

Indian shares may open slightly lower on Friday as investors await Infosys' Q1 earnings results and watch key developments on the trade front.

Indian and U.S. trade negotiators will meet today after a series of protectionist measures taken by the two governments in recent months strained ties between the strategic partners.

Benchmark indexes Sensex and the Nifty climbed around 0.7 percent on Thursday while the rupee ended up by 14 paise at 14 paise at 68.44 against the dollar.

Asian markets are moving lower this morning on worries over renewed Sino-U.S. trade tensions after U.S. President Donald Trump accused China of breaking a promise it made on buying agricultural products from American farmers. Investors also awaited Chinese trade data for direction.

Gold remained on track for a weekly gain while the dollar held steady after the release of stronger-than-expected U.S. consumer inflation data.

Oil prices rose in Asian deals after falling on Thursday as OPEC cut its 2019 oil production growth forecast for its non-cartel peers.

U.S. stocks ended mixed overnight after the Trump administration backed down from a controversial effort to lower drug prices.

The Dow climbed 0.9 percent to close above 27,000 for the first time ever and the S&P 500 gained 0.2 percent to reach fresh record closing high while the tech-heavy Nasdaq edged down 0.1 percent.

European markets ended Thursday's session lower after the IMF and Bank of England spoke about risks from trade tensions, Brexit impact and Italy's big deficit budget.

The pan European Stoxx 600 slipped 0.1 percent. The German DAX, France's CAC 40 index and the U.K.'s FTSE 100 all dropped around 0.3 percent.

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