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Sensex Up 135 Points As Oil Prices Slide; Nifty Rises 40 Points

Indian shares opened modestly higher on Thursday after oil prices plunged overnight on supply worries, helping ease worries over rising inflationary pressures.

The benchmark BSE Sensex was up 135 points or 0.41 percent at 32,731 in early trade while the broader Nifty index was up 40 points or 0.39 percent at 10,083.

PSU banks were modestly higher after Finance Minister Arun Jaitley hinted that the government may backtrack on some of the controversial provisions in the Financial Resolution and Deposit Insurance (FRDI) bill pending before Parliament.

Infosys advanced 0.7 percent after the IT major submitted a settlement application to the Securities and Exchange Board of India (SEBI) with regard to issues surrounding former CFO Rajiv Bansal's high severance package.

Tata Motors edged up 0.2 percent after rolling out the first batch of Tigor electric vehicles from its Sanand facility in Gujarat.

NMDC gained 0.3 percent after it unveiled plans to expand presence in gold, diamond and tungsten mining.

IDBI Bank shares rose 1 percent. The lender had sold 7,99,999 equity shares of National Securities Depository (NSDL) for an undisclosed amount.

DLF added half a percent. The realty firm said it had sold housing properties worth about Rs 300 crore in Gurgaon in November.

Claris Lifesciences lost 1 percent on delisting news.

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