Sensex, Nifty Seen Flat To Higher At Open

(RTTNews) - Indian shares are seen opening higher on Friday after major U.S. indexes hit record closing highs overnight on the back of positive economic indicators and encouraging corporate earnings.

Taiwan Semiconductor Manufacturing, the world's largest contract chipmaker, boosted its full-year revenue growth projections and Netflix reported earnings ahead of Wall Street consensus estimate, helping investors shrug off uncertainty over U.S. tariffs. Closer home, negotiations between India and the U.S. are underway to iron out pending issues for a trade deal, the Ministry of External Affairs (MEA) said, a day after U.S. President Donald Trump said that Washington is "very close" to the trade pact with India.

Benchmark indexes Sensex and Nifty fell around half a percent each on Thursday while the rupee fell past 86 per dollar before closing at a three-week low of 85.94 per dollar.

Asian markets were mostly higher this morning and the dollar was set for a weekly gain while gold held firm above $3,340 per ounce despite dollar strength.

Oil prices were little changed after rising sharply in the previous session, fueled by drone attacks on Iraqi oil fields and recent data pointing to sustained market tightness.

U.S. stocks advanced overnight as PepsiCo and United Airlines reported earnings that beat estimates and upbeat jobless claims and retail sales data portrayed economic resilience.

The tech-heavy Nasdaq Composite and the S&P 500 climbed 0.8 percent and half a percent, respectively to reach new record closing highs, while the narrower Dow gained half a percent.

European stocks halted a four-day losing streak on Thursday amid continued optimism over a potential EU-U.S. trade deal and positive earnings news.

The pan European STOXX 600 climbed 1 percent. The German DAX rallied 1.5 percent, France's CAC 40 surged 1.3 percent and the U.K.'s FTSE 100 added half a percent.