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Sensex, Nifty Seen Lower As Moody's Cuts India Outlook

Indian shares are likely to open lower on Friday after Moody's Investors Service cut India's credit ratings outlook to negative from stable, citing a growing debt burden and the government's struggle to narrow the budget deficit.

Investors may also react to a Reuters report suggesting that the idea of a tariff rollback has drawn fierce opposition from many of Trump's advisers.

Benchmark indexes Sensex and the Nifty rose around half a percent on Thursday to extend their bull run after the government announced a Rs. 25,000-crore stimulus for the real estate sector. The rupee ended flat at 70.97 against the U.S. dollar.

Asian markets traded higher this morning while gold hovered near one-month low as the dollar held on to its gains versus the yen. Oil prices fell slightly after rising sharply on Thursday.

U.S. stocks hit record highs overnight after the U.S. and China reportedly agreed to remove existing tariffs on each other's goods in phases.

The Dow Jones Industrial Average climbed 0.7 percent and the tech-heavy Nasdaq Composite added 0.3 percent to reach fresh record closing highs while the S&P 500 rose 0.3 percent.

European markets ended higher on Thursday amid fresh optimism that the U.S. and China would soon complete part one of a wider agreement.

The pan European Stoxx 600 gained 0.4 percent. The German DAX climbed 0.8 percent, France's CAC 40 index rose 0.4 percent and the U.K.'s FTSE 100 inched up 0.1 percent.

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