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Sensex, Nifty Inch Higher Ahead Of Macro Data

Indian shares opened modestly higher on Friday ahead of industrial output and consumer inflation figures due out later in the day.

The benchmark BSE Sensex was up 120 points or 0.34 percent at 34,621 in early trade, while the broader Nifty index was up 35 points or 0.33 percent at 10,686.

TCS dropped 1.5 percent after posting muted growth in quarterly profit. Rival Infosys was little changed before unveiling its Q3 earnings.

ICICI Prudential Life Insurance Company advanced 0.6 percent after the Securities Appellate Tribunal (SAT) struck down IRDA's order over the matter related to the merger of Sahara's life insurance business with the company.

GAIL added 0.8 percent on news that it plans to extend Urja Ganga gas pipeline to Guwahati.

Karnataka Bank and Reliance Industrial Infrastructure were trading higher ahead of their Q3 results due today.

Shree Cement slid 0.2 percent after it agreed to acquire a 93 percent stake in Union Cement Co. PSC, a United Arab Emirates-based firm.

SBI gained 0.6 percent on fund raising reports.

Dredging Corp jumped almost 3 percent on winning a Rs 88.5 crore contract for dredging of channels and basins at Cochin port.

Reliance Infra rose 1 percent on reports that it has emerged as the lowest bidder for NTPC's Rs 567 Cr turnkey contract.

by RTTNews Staff Writer

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