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Sensex, Nifty Seen Opening On Flat Note

Indian shares look set to open on a flat note Friday after the Centre announced new rules for allowing shopping malls, restaurants, hotels and places of worship to open gradually from Monday.

All establishments that come under containment zones, however, will remain closed as announced earlier.

With business activities coming to a virtual standstill mode due to the nationwide lockdown, the goods and services tax collection has fallen to around Rs 43,000 crore in April 2020, CNBC TV18 said citing sources.

The GST collections in April last year stood at Rs 1.13 lakh crore, which was the highest ever GST collections so far.

Meanwhile, a survey by the Reserve Bank of India (RBI) showed that India's consumer confidence collapsed in May 2020.

The current situation index (CSI) fell to a historic low of 63.7 in May 2020 vis-a-vis 85.6 in March 2020.The future expectations index (FEI) fell sharply to 97.9 from 115.

Benchmark indexes Sensex and the Nifty gave up early gains to end slightly lower on Thursday after six straight days of gains. The rupee dropped by 10 paise to close at 75.57 against the dollar.

Asian markets are trading mixed this morning and gold prices rose on a weaker dollar while oil prices eased slightly on uncertainty over producers' commitment to output cuts.

U.S. stocks ended mostly lower overnight as yet another round of dismal weekly jobless-claims data offset new stimulus efforts in Europe to deal with the economic fallout from the coronavirus pandemic.

The Dow Jones Industrial Average inched up 0.1 percent to a three-month closing high, while the tech-heavy Nasdaq Composite shed 0.7 percent and the S&P 500 declined 0.3 percent.

European markets drifted lower on Thursday after the ECB announced a larger-than-expected expansion of its coronavirus stimulus program, but warned the euro zone is facing an "unprecedented contraction".

The pan European Stoxx 600 declined 0.7 percent. The German DAX dropped half a percent, France's CAC 40 index slid 0.2 percent and the U.K.'s FTSE gave up 0.6 percent.

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