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Sensex, Nifty Marginally Higher In Early Trade

Indian shares were holding steady on Tuesday and the rupee hovered near a seven-month high as investors braced for dovish commentary from global central banks.

The benchmark 30-share BSE Sensex was up 33 points or 0.09 percent at 38,127 in early trade, while the broader Nifty index was little changed at 11,465.

Reliance Communications soared 10 percent after it terminated an agreement for sale of telecom assets with Reliance Jio.

Group companies Reliance Power, Reliance Infrastructure, Reliance Capital and Reliance Naval surged 4-5 percent after Mukesh Ambani saved his younger brother Anil from imprisonment by paying money owed by him to Ericsson.

Hotel Leela Venture jumped 5 percent as Canada's Brookfield Asset Management agreed to acquire four hotels and a land parcel from the company.

Bharti Airtel advanced 1.5 percent on reports that its DTH arm is in merger talks with Dish TV.

Balrampur Chini Mills and Bajaj Hindusthan dropped 1-2 percent after industry data showed sugar output rose by 6 percent till March 15 of the current marketing year ending September 2019.

Tata Motors slid half a percent. The automaker said that costs associated with JLR recall are not material. Maruti Suzuki lost about 1 percent and Hero MotoCorp declined 2 percent.

Adani Ports and Special Economic Zone shed 0.7 percent after its board gave nod for buyback of non-convertible debentures worth Rs. 1,400 crore.

AurionPro Solutions rallied 3.8 percent on share buyback news.

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