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Sensex, Nifty Seen Opening Flat After Weak Exports Data

Indian shares may open largely unchanged on Tuesday as investors digest macro data and await the latest batch of corporate earnings.

India's business confidence fell to its joint-lowest on record as companies were concerned about the cooling economy and government policies, survey data from IHS Markit showed Monday.

The net balance of firms expecting output growth in coming twelve months fell to +15 percent in June from +18 percent in February. A similar score was last reported in June 2016 and was the joint-lowest since October 2009.

Meanwhile, India's exports have entered negative zone after a gap of eight months and imports also fell, raising fresh concerns about domestic and external demand.

Merchandise exports in June declined 9.71 percent from a year earlier while imports fell by 9.06 percent, data furnished by the Ministry of Commerce and Industry showed.

Benchmark indexes Sensex and the Nifty eked out modest gains on Monday after IT major Infosys delivered better-than-expected profit for the March quarter. The rupee rose by 15 paise to close at 68.54 against the greenback.

Asian markets are trading mixed this morning, as traders awaited U.S. retail sales data and more corporate earnings to gauge the health of the world's largest economy.

The dollar index was relatively unchanged against a basket of major currencies while oil prices fell for a second day as more production facilities returned to operation in the U.S. Gulf after Hurricane Barry swept through over the weekend.

Overnight, U.S. stocks edged up marginally to notch a fresh record close as Citigroup reported second quarter results that beat analyst estimates on both the top and bottom lines.

The Dow Jones Industrial Average inched up 0.1 percent and the tech-heavy Nasdaq Composite rose 0.2 percent while the S&P 500 ended flat with a positive bias.

European markets advanced on Monday as a slew of Chinese data proved to be a mixed bag and Iran said it's ready to hold talks with the U.S. if Washington drops sanctions and returns to the 2015 nuclear deal.

The pan European Stoxx 600 rose 0.2 percent. The German DAX rose half a percent, the U.K.'s FTSE 100 gained 0.3 percent and France's CAC 40 index edged up 0.1 percent.

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