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Sensex, Nifty Pare Gains To End Flat

Indian shares pared intraday gains to close largely unchanged on Monday as caution crept in ahead of RBI monetary policy review and the first phase of Gujarat elections due this week.

The benchmark BSE Sensex inched up 36.78 points or 0.11 percent to 32,869.72 while the broader Nifty index finished at 10,127.75, up 5.95 points or 0.06 percent from its previous close.

Biotechnology firm Biocon soared 15.6 percent after it received FDA approval for Trastuzumab, a biosimilar to Herceptin jointly developed with Mylan.

Infosys shares jumped 2.7 percent on hopes that the surprise appointment of Salil Parekh as CEO and MD would help the company move on from a long-standing feud between its board and founders.

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

Globally, Asian stocks reversed early losses to finish mixed after U.S. Senate Republicans narrowly passed a bill to overhaul the U.S. tax system and President Donald Trump said on Twitter he never asked FBI director James Comey to stop investigating former National Security Adviser Michael Flynn.

European markets were sharply higher in early trade as the U.S. Senate eventually approved a bill to overhaul the tax system and investors pinned hopes for progress in Britain's Brexit talks.

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