Sensex, Nifty Seen Higher On Firm Global Cues
(RTTNews) - Indian shares look set to open higher on Friday as chances of a Brexit deal improved suddenly and U.S. President Donald Trump said the talks with China went "very well", with a U.S. Chamber of Commerce official briefed by both sides raising the possibility of a currency agreement this week.
Meanwhile, media reports suggest that the Modi government has begun the biggest review of GST-including a possible of resetting of rates to plug leakages and boost collection.
On the earnings front, TCS' Q2 profit, revenue growth and profit margins all missed Street estimates. The company announced a dividend of Rs 45 per share, including special dividend of Rs 40 per share.
Infosys is expected to upgrade its revenue guidance for the financial year when it releases its September quarter results later today.
Benchmark indexes Sensex and the Nifty fell around 0.8 percent and 0.7 percent, respectively on Thursday, with financials pacing the declines after IndusInd Bank reported an increase in gross non-performing assets. The rupee ended flat at 71.07 against the U.S. dollar.
Asian markets rose this morning and oil held steady on comments about possible supply cuts from the head of OPEC while gold inched lower on Trump's positive remarks on trade.
The British pound held onto gains after British Prime Minister Boris Johnson and Irish leader Leo Varadkar agreed they could see a pathway to a possible deal on Brexit.
Overnight, the three major U.S. averages rose around 0.6 percent as Apple's shares jumped and President Trump said he plans to meet with Chinese Vice Premier Liu He at The White House as part of high-level U.S.-China trade talks.
Adding to the positive sentiment, Liu told Chinese state-run media Xinhua the Chinese delegation has come to the talks with "great sincerity and is willing to make serious exchanges with the U.S. on issues of common concern to prevent further escalation and spread of friction."
European markets rose on Thursday as trade optimism prevailed and British Prime Minister Boris Johnson and Irish PM Leo Vardakar came out with positive comments regarding a Brexit deal.
The pan European Stoxx 600 advanced 0.7 percent. The German DAX gained 0.6 percent, France's CAC 40 index surged 1.3 percent and the U.K.'s FTSE 100 added 0.3 percent.
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