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Sensex, Nifty Off Day's Lows As Oil Prices Fall

Indian shares opened lower on Monday and the rupee fell further to 73.96 per dollar in early trade as global bond yields hardened further, raising concerns of capital outflows.

The benchmark BSE Sensex was down 73 points or 0.21 percent at 34,304, recouping some of its early loss. The broader Nifty index was marginally lower at 10,311.

HCL Technologies dropped 1.5 percent after it unveiled plans to invest Rs. 750 crore in Andhra Pradesh.

BPCL, HPCL and IOC jumped 4-7 percent after the government assured investors that it would not go back to regulating fuel prices.

In addition, oil prices fell more than 1 percent in Asian trade amid the buzz that Saudi Arabia has replaced all of Iran's lost oil.

Yes Bank rallied 2.7 percent after reports that the bank will shortlist three names as potential candidates to succeed Rana Kapoor.

Housing and non-banking financial companies extended recent losses, with HDFC, Dewan Housing Finance and Shriram Transport Finance losing 2-5 percent.

GATI plunged 9 percent on fears of a ratings downgrade by CARE Ratings.

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