(fxcue news) - Indian shares look set to open lower on Friday, with IT stocks likely to be in focus after Tata Consultancy Services (TCS), the country's largest IT services firm, missed estimates on both revenue and profit fronts. Muted global cues may also weigh on markets amid much uncertainty over U.S. policies under Trump administration and China's growth prospects. Benchmark indexes Sensex and Nifty both fell around 0.7 percent each on Thursday to extend declines for a second day running, while the rupee recovered from a record low to settle 4 paise higher at 85.87 against the greenback amid dollar sales by private banks. Pressures on the domestic currency will ease and the Indian economy is likely to grow by 6.6 percent in 2025, largely driven by strong private consumption and investment, the United Nations World Economic Situation and Prospects (WESP) report released on Thursday said. Foreign institutional investors (FIIs) recorded their largest sell-off in the new year, offloading shares worth Rs. 7,171 crore on Thursday, while domestic institutional investors (DIIs) net purchased shares worth Rs. 7,640 crore, according to provisional data from the NSE. Asian stocks were broadly lower this morning, Treasuries advanced and the dollar continued to show strength in the lead-up to key U.S. jobs data due later in the day. Gold was little changed while oil prices were mixed. European stocks closed broadly higher on Thursday despite inflation concerns and Trump's tariff threats. Trading volumes were a bit thin as U.S. markets were closed in honor of former U.S. President Jimmy Carter. The pan European STOXX 600 gained 0.4 percent. The U.K.'s FTSE 100 surged 0.8 percent and France's CAC 40 added half a percent while the German DAX edged down marginally.