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Sensex, Nifty Seen Up On Global Cues

Indian shares may open a tad higher on Monday, with oil price movements, the direction of rupee, the latest batch of earnings results and expectations surrounding the upcoming Budget likely to sway sentiment as the week progresses.

Axis Bank, Bank of Baroda, Bank of Maharashtra, Canara Bank and Kotak Mahindra Bank are among the prominent companies that will unveil their quarterly earnings this week.

TCS shares would be in focus today after the IT major delivered a muted performance in the third quarter hobbled by structural changes in deals involving large banking and retail customers in the U.S.

Meanwhile, Reliance Industries' operating profit fell the most in more than four years on a drop in refining margin and weak petrochemicals business.

Asian markets edged higher this morning after the People's Bank of China kept the loan prime rate unchanged.

Gold traded in a tight range and the dollar began the week on a firm note while oil prices jumped around 1 percent after two large crude production bases in Libya began shutting down amid a military blockade.

U.S. stocks eked out modest gains on Friday as investors cheered strong U.S. housing data and signs of resilience in the Chinese economy.

The Dow Jones Industrial Average edged up 0.2 percent, the tech-heavy Nasdaq Composite gained 0.3 percent and the S&P 500 added 0.4 percent.

European markets closed higher on Friday after data showed China's economy grew in line with expectations in 2019.

The pan European Stoxx 600 notched a fresh record high before ending 1 percent higher. The German DAX climbed 0.7 percent, France's CAC 40 index surged 1 percent and the U.K.'s FTSE 100 advanced 0.9 percent.

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