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Sensex, Nifty Open Lower In Cautious Trade

Indian shares opened a tad lower on Tuesday after six consecutive sessions of gains. A cautious undertone prevailed as investors looked for signals from the RBI monetary policy committee meeting starting later today and results of the recent assembly elections due on December 11.

The benchmark BSE Sensex was down 111 points or 0.31 percent at 36,129 in early trade while the broader Nifty index was down 29 points or 0.26 percent at 10,855. The rupee opened down by 5 paise at 70.51 against the dollar.

Bharti Airtel, HDFC Bank, NTPC, Mahindra & Mahindra and HDFC fell 1-2 percent in the Nifty pack, while BPCL, UPL, HPCL, Yes Bank and Indiabulls Housing Finance climbed 1-3 percent.

Yes Bank advanced 1.5 percent after appointing TS Vijayan as additional director.

State-run oil marketing companies BPCL, HPCL and IOC were up over 1 percent despite oil extending strong gains from the previous session.

Sun Pharma shares rose over 1 percent. The country's largest drugmaker said it is ready to evaluate some of the structures and transactions to assuage investor concerns.

Welspun Enterprises rallied 2.7 percent after it signed a pact with National Highways Authority of India (NHAI) for a Rs 2,005 crore highway project in Tamil Nadu.

Reliance Communications jumped 6 percent. Its arm Reliance Realty has issued a Rs 1,400-crore corporate guarantee to the telecom department, paving the way for its asset sale plans.

Bajaj Auto gained 1 percent on reporting a 25 percent jump in November sales.

Uflex soared 6.5 percent after its global film manufacturing arm received U.S. patent covering entire categories of formable films.

NCC rose half a percent on news that it has received two new orders worth Rs 220.20 crore in November.

India Cements dropped 1.7 percent after Springway Mining became its subsidiary.

Bharti Airtel lost 1 percent on fund raising reports.

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