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Sensex, Nifty Set For Muted Start

Indian shares look set to open flat to slightly lower on Monday as investors react to mixed global cues and rising crude prices. Oil extended gains to hit a one-week high on concerns over U.S. supplies due to the impact of Hurricane Ida.

Business outlook in India has improved significantly in the ongoing quarter, but companies are seeing a rise in the cost of doing business and production owing to multiple factors, a FICCI survey released on Sunday showed.

Asian stocks traded mixed this morning as investors awaited important U.S. and Chinese economic data this week as well as Apple's launch of its next-generation iPhone 13 series for directional cues. Gold prices were subdued while treasury yields held an advance and the dollar traded firm.

U.S stocks retreated on Friday as virus worries persisted despite President Biden announcing new vaccination mandates.

The Dow and the S&P 500 both fell around 0.8 percent to extend losses for the fifth consecutive session, while the tech-heavy Nasdaq Composite shed 0.9 percent.

European stocks ended mostly lower on Friday as traders weighed concerns over rising inflation and the ECB's decision on Thursday to slow down bond buying under its pandemic stimulus program.

The pan European Stoxx 600 gave up 0.3 percent. The German DAX slipped marginally and France's CAC 40 index dropped 0.3 percent while the U.K.'s FTSE 100 finished flat with a positive bias.

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