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Sensex, Nifty Set To Open On Soft Note

Indian shares look set to open flat to slightly lower on Monday as investors react to Infosys earnings as well as macro data released after market hours on Friday.

Infosys reported a 5.26 percent year-on-year (YoY) rise in its quarterly net profit and raised its guidance for FY20, while maintaining its margin guidance.

India's consumer price inflation accelerated at a faster-than-expected pace in June, while industrial production grew more than expected in May, separate reports showed.

The consumer price index climbed 3.18 percent year-on-year following a 3.05 percent increase in May. Economists had forecast 3.13 percent inflation.

Industrial production advanced 3.1 percent annually, bigger than the expected 2.9 percent. However, the rate was weaker than the revised 4.3 percent expansion seen in April.

Wholesale inflation data and trade balance figures will be released later today while Bajaj Consumer Care and Tata Metaliks are among the prominent companies that will unveil their quarterly earnings results.

Among heavyweights, ACC, HDFC Bank, MindTree, Reliance Industries, Wipro and Yes Bank will announce their quarterly results this week.

Benchmark indexes Sensex and the Nifty fell around 2 percent last week after the Budget failed to give any immediate short-term growth boosters.

Asian stocks started the week on a soft note after China posted its slowest quarterly economic growth in at least 27 years.

A slew of Chinese data on retail sales, industrial production and urban investment could also provide more clues on whether there is a case for more Chinese stimulus to boost growth.

The dollar was on the defensive while oil edged down on concerns about demand in the world's largest crude oil importer.

U.S. stocks rose on Friday to hit fresh record closing highs on optimism the Fed will soon cut its benchmark interest rate.

The Dow climbed 0.9 percent and the tech-heavy Nasdaq Composite gained 0.6 percent while the S&P 500 added half a percent to close above 3,000 for the first time.

European markets ended Friday's session on a mixed note after the release of Chinese trade and Eurozone industrial production data.

The pan European Stoxx 600 edged up marginally. The German DAX and the U.K.'s FTSE 100 both slid around 0.1 percent while France's CAC 40 index rose 0.4 percent.

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