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Sensex, Nifty Slightly Higher In Early Trade

Indian shares opened on a flat note Monday as investors digested weak industrial output data and awaited the outcome of Karnataka assembly elections amid expectations a victory for BJP will enthuse the cadre tremendously ahead of nationwide elections in 2019. The counting of votes will take place tomorrow.

The benchmark BSE Sensex was up 65 points or 0.18 percent at 35,600 in early trade after rallying around 2 percent last week on the back of healthy corporate earnings and easing geopolitical tensions. The broader Nifty index was up 20 points or 0.19 percent at 10,826.

Hindustan Unilever inched up 0.2 percent ahead of its annual results due later in the day.

Allahabad Bank lost 1 percent after widening its fourth-quarter net loss.

Ashoka Buildcon rose 0.6 percent after its unit executed a concession agreement with NHAI for a Rs 1,687cr project.

Canara Bank rallied 3 percent despite reporting a net loss of Rs 4,859 crore for the fourth quarter ending March 2018 due to three-fold rise in provisions.

Similarly, Oriental Bank of Commerce jumped 2.4 percent despite widening its Q4 net loss.

JBM Auto climbed 2.5 percent after entering into a shareholder agreement with Jay Bharat Maruti and Ogihara (Thailand).

Sical Logistics dropped 1.6 percent after its board approved buying L&T Infra's stake in Sical Iron Ore Terminals.

JK Cement declined more than 2 percent on fund raising reports.

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