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Indian Stocks May Open Flat To Slightly Higher

Indian stocks are likely to open flat to slightly higher on Monday, tracking cues from Wall Street where socks ended on a buoyant note amid renewed optimism about a U.S.-China interim trade deal.

Data showing a significant drop in India's trade deficit in the month of October may also support the market.

Cues from Asian markets are mixed.

U.S. stocks ended on a high note on Friday and the major averages reched new record highs, amid renewed optimism about a U.S.-China trade deal following comments from White House officials.

In company news, Wockhardt is likely to be in focus on reports some big-name companies, including Dr Reddy's Laboratories and Cipla, and Carlyle & Asian Investment Fund PAG are in race to acquire some of Wockhardt's business segments.

Reliance Communications reported consolidated net loss of Rs 30,158 crore for the second quarter, compared with net loss of Rs 366 crore in the previous quarter.

Cadila Healthcare announced that Zydus has received tentative approval from the USFDA for its Apremilast tablets. The drug is used to treat mouth sores in people who have Behcet's disease, the company said.

Unichem Laboratories said it has received USFDA's approval for its generic drug Buspar, used for treating anxiety disorders.

On the economic front, official data released after trading hours on Friday showed India's trade deficit narrowed to $11.01 billion in October, from an upwardly revised $18 billion a year earlier.

Exports dropped by 1.1 percent to $26.38 billion in October and imports were down by 16.3 percent at $37.39 billion.

On Friday, shares ended off their day's highs, due largely to some brisk sellilng in automobile and energy sectors. The Sensex ended up 70.21 points, or 0.17 percent, at 40,356.69, nearly 300 points off an early high of 40,650.06.

The broader Nifty index gained 23.20 points, or 0.2 percent, as it settled at 11,895.30.

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