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Sensex, Nifty Modestly Higher In Early Trade

Indian shares followed Asian markets higher on Monday after U.S. President Donald Trump and Chinese President Xi Jinping agreed to keep their trade war from escalating.

While Trump promised to suspend new tariffs on Chinese products, Xi agreed to purchase a very substantial amount of U.S. products so as to reduce the trade deficit between the two countries.

That said, overall gains remained capped by a surge in oil prices and weak GDP data for the September quarter released on Friday.

The benchmark BSE Sensex was up 189 points or 0.52 percent at 36,383 in early trade, while the broader Nifty index was up 49 points or 0.45 percent at 10,925.

Banks were trading modestly lower ahead of the RBI's interest-rate decision on December 5.

Jet Airways edged up slightly on news the airline is reworking its international network.

HPCL and IOC dropped 1-2 percent after oil prices surged over 5 percent.

Tata Motors rallied 2 percent despite reporting a 4 percent drop in November sales.

Hero Moto Corp declined 0.7 percent after reporting a marginal rise in November sales.

ONGC rose half a percent after the government formed a six-member panel to sell 149 fields of the company.

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