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Sensex, Nifty Set To Open On Cautious Note

Indian shares look set to open on a cautious note on Wednesday as traders return to their desks after the Dussehra holiday.

Benchmark indexes Sensex and the Nifty slid around 0.4 percent on Monday to extend losses for the sixth day running as investors awaited macroeconomic data as well as September quarter earnings results from TCS and Infosys for directional cues.

The rupee fell by 14 paise to close at 71.02 against the U.S. dollar amid unabated foreign fund outflows.

Asian markets fell the most in a week as trade worries lingered and the IMF's new chief issued a stark warning about the state of the global economy.

U.S. stocks slumped overnight after the Trump administration imposed visa restrictions on Chinese officials over abuses of Muslim minorities in the Xinjiang region.

Meanwhile, Fed Chairman Jerome Powell flagged openness to further rate cuts and indicated the central bank intends to resume increasing the size of its balance sheet in order to ensure money markets function smoothly.

The Dow Jones Industrial Average dropped 1.2 percent, the tech-heavy Nasdaq Composite shed 1.7 percent and the S&P 500 lost 1.6 percent.

European markets ended lower on Tuesday on waning optimism about U.S.-China trade talks after a report in the South China Morning Post said China is toning down expectations ahead of the high-level discussions with the U.S.

The pan European Stoxx 600 retreated 1.1 percent. The German DAX gave up 1.1 percent, France's CAC 40 index declined 1.2 percent and the U.K.'s FTSE 100 shed 0.8 percent.

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