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Sensex, Nifty Set To Open On Positive Note

Indian shares look set to open higher on Monday as investors eye macroeconomic data and look for more stimulus from the government in the holiday-shortened weekend. The BSE and NSE will be closed on Tuesday for 'Muharram'.

On the data front, industrial output and inflation numbers due out on Thursday will give a fresh health check on the domestic economy as the economic slowdown reaches worrying proportions.

Asian markets are rising this morning as investors bet on more central bank stimulus to support growth. The European Central Bank meets on Thursday with markets expecting a rate cut along with some new stimulus package.

The U.S. dollar was on the defensive as U.S. yields came off two-week highs after the release of soft U.S. data.

Gold inched up on hopes of economic stimulus while oil prices rose after a Saudi official said there would be no change in Saudi Arabia's OPEC policy.

U.S. stocks finished mostly higher on Friday as a Chinese stimulus plan helped offset underwhelming jobs data hinting at a slowing economy.

Traders largely shrugged off comments from Fed Chair Jerome Powell, who reiterated his oft-repeated pledge that the Fed will "act as appropriate" to sustain the U.S. economic expansion.

The Dow Jones Industrial Average rose 0.3 percent and the S&P 500 inched up 0.1 percent while the tech-heavy Nasdaq Composite index slid 0.2 percent.

European markets eked out modest gains on Friday as EU political risks faced and investors cheered upbeat signals on U.S.-China trade talks.

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

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