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Sensex Little Changed In Early Trade; Nifty Down 21 Points

Indian shares gave up early gains to drift lower on Monday, mirroring weak cues from Asia after a report that Michael Flynn, Donald Trump's former national security adviser, pleaded guilty to lying to federal agents about conversations with the Russian ambassador last December during the presidential transition.

Investors also looked ahead to this week's RBI policy meeting, although no major changes are expected amid rising inflationary pressures.

The benchmark BSE Sensex was virtually unchanged at 32,839 in early trade after tumbling over 2 percent last week on concerns surrounding rising oil prices and widening fiscal deficit.

The broader Nifty index was down 21 points or 0.21 percent at 10,100, with Sun Pharma, HPCL, Adani Ports, Bajaj Finance and Wipro falling 1-2 percent.

Coal India shed 0.7 percent after unveiling production and offtake figures for November.

DLF declined 0.8 percent on fund raising reports.

Infosys shares rallied 1.6 percent after the surprise appointment of Salil Parekh as CEO and MD of the company.

Biocon soared more than 10 percent after it received FDA approval for Trastuzumab, a biosimilar to Herceptin jointly developed with Mylan.

Dr. Reddy's Laboratories advanced 0.6 percent on receiving the Establishment Inspection Report from the US Food and Drug Administration for its CPS facility in Telangana.

JSW Energy gained 1 percent on securing power purchase pacts aggregating to 208 MW.

Tata Steel edged up 0.4 percent after it agreed to acquire a 74 percent stake in joint venture Bhubaneshwar Power Pvt.

Tata Motors climbed 1.3 percent on reporting a 58 percent increase in November sales.

Hero MotoCorp inched up marginally on reporting a 26 percent rise in monthly sales for November.

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