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Sensex, Nifty Seen Lower As Trump Signs Human Rights Act

Indian shares look set to open lower on Thursday after finance minister Nirmala Sitharaman indicated the possibility of a fiscal slippage in the current fiscal, but promised to take necessary steps to put the economy on a higher growth trajectory.

Meanwhile, the telecom ministry has categorically declined the request of the telecom industry to reduce the 5G spectrum prices in the upcoming auctions.

Benchmark indexes Sensex and Nifty extended their bull run on Wednesday to reach record highs, while the rupee rose by 15 paise to close at more than two-week high of 71.35 against the U.S. dollar.

Asian markets fell this morning after U.S. President Donald Trump signed a bill supporting Hong Kong protesters, a move that could heighten tensions between the world's two largest economies as they work hard to reach a "phase one" trade deal.

China's Ministry of Foreign Affairs emphasized that Hong Kong is part of China through the "one country, two systems" policy, and that the special administration region's issues are internal affairs.

Safe-haven assets such as gold and the Japanese yen gained ground while oil extended losses from the previous session after a report showed U.S. crude inventories grew unexpectedly last week.

U.S. stocks rose for a fourth straight session to reach fresh record closing highs overnight after President Trump said trade talks are "going very well." Upbeat durable goods orders and GDP data also underpinned sentiment ahead of the Thanksgiving Day holiday Thursday.

The Dow Jones Industrial Average edged up 0.2 percent, the tech-heavy Nasdaq Composite climbed 0.7 percent and the S&P 500 gained 0.4 percent.

European markets rose on Wednesday, helped by positive rhetoric on the U.S.-China trade front and promising consumer confidence figures out of France.

The pan-European Stoxx Europe 600 index gained 0.3 percent. The German DAX and the U.K.'s FTSE 100 both rose around 0.4 percent while France's CAC 40 index slid 0.1 percent.

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