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Sensex, Nifty Seen Opening Lower

Indian shares look set to open a tad lower on Monday as investors monitor the headlines concerning ongoing slowdown in the domestic economy.

India is in the midst of a "growth recession" with signs of deep malaise in the economy that is being run through extreme centralisation of power in Prime Minister's Office and powerless ministers, former Reserve Bank of India (RBI) governor Raghuram Rajan said.

On the positive side, Finance Minister Nirmala Sitharaman said on Saturday that the government is working on more steps, including rationalisation of personal income tax rates, to revive the sagging economy.

According to media reports, the government may also announce some measures to boost the real estate industry this week.

Asian markets edged up this morning, though the upside remained limited after the German economy slipped into negative growth and China's exports shrank for the fourth consecutive month.

On the trade front, top White House economic adviser Larry Kudlow said that a Dec. 15 deadline is still in place to impose a new round of U.S. tariffs on Chinese consumer goods.

Gold crept higher and the dollar held firm while oil prices eased but held near recent peaks after OPEC and its allies agreed to deepen output cuts.

U.S. stocks rallied on Friday after the latest jobs data topped expectations and a measure of consumer sentiment hit a seven-month high.

The Dow Jones Industrial Average climbed 1.2 percent, the tech-heavy Nasdaq Composite jumped 1 percent and the S&P 500 added 0.9 percent.

Non-farm payroll employment surged up by 266,000 jobs in November after climbing by an upwardly revised 156,000 jobs in October. The jobless rate edged down to 3.5 percent from 3.6 percent in October.

European markets ended on a fairly buoyant note on Friday on the back of upbeat U.S. jobs data and continued optimism about U.S.-China trade deal.

The pan European Stoxx 600 rallied 1.2 percent. The German DAX gained 0.9 percent, France's CAC 40 index added 1.2 percent and the U.K.'s FTSE 100 climbed 1.4 percent.

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