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Sensex Up Over 100 Points In Early Trade; Nifty Climbs Above 10250

Indian shares opened modestly higher on Friday after official data showed India's GDP growth rebounded from a three-year low in the June quarter, reflecting strong growth in manufacturing.

The benchmark BSE Sensex was up 110 points or 0.33 percent at 33,258 in early trade after falling more than 1 percent on Thursday. The broader Nifty index was up 36 points or 0.35 percent at 10,262.

Reliance Communications rose over 1 percent. The telecom firm claimed that 31 foreign and Indian lenders have opposed China Development Bank's insolvency petition against the company.

Bank of Baroda rallied 1.5 percent after LIC pared its stake in the state-run bank.

DLF gained half a percent on fund raising reports.

Reliance Power advanced 0.8 percent after it signed agreements to execute first phase of its USD 1 billion (Rs 6,500 crore) power project in Bangladesh.

UFO Moviez India tumbled 3.5 percent on disappointing Q2 results.

HDFC edged down marginally after it decided to dilute stake in its asset management unit.

by RTT Staff Writer

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