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Indian Shares Set For Positive Start

Indian shares look set to open slightly higher on Thursday despite mixed global cues and a massive resurgence of the coronavirus, with the country logging a record over 126,200 daily cases of the coronavirus disease on Wednesday.

Benchmark indexes Sensex and the Nifty rose about 1 percent on Wednesday after the RBI pledged to maintain an accommodative stance for as long as necessary to support growth.

The rupee, however, nosedived 105 paise to mark its biggest single-session drop in over 20 months against the U.S. dollar on concerns over surging coronavirus infections in the country.

Asian markets are trading mixed this morning and the dollar hovered near two-week lows amid a pullback in yields while oil prices dropped after a two-day gain.

U.S. stocks ended narrowly mixed overnight after minutes of March FOMC meeting reinforced expectations that interest rates will remain low for some time amid continued uncertainty surrounding the economic outlook.

European markets ended Wednesday's session mostly lower amid concerns about a surge in coronavirus cases in several countries and a somewhat slow pace of vaccination in parts of the continent.

The pan European Stoxx 600 eased 0.2 percent. The German DAX slid 0.2 percent and France's CAC 40 index finished marginally lower while the U.K.'s FTSE 100 rose 0.9 percent.

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