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Sensex, Nifty Give Up Early Gains

Indian shares opened a tad higher on Thursday, tracking positive global cues after U.S. President Donald Trump decided to delay imposing tariffs on car imports from EU and U.S. Treasury Secretary Steven Mnuchin said he will likely travel to Beijing soon to continue negotiations with Chinese counterparts.

The benchmark BSE Sensex was virtually unchanged at 37,113, giving up early gains. The broader Nifty index was up 4 points at 11,161.

The rupee opened up by 7 paise at 70.27 against the dollar despite weak trade data showing that India's trade deficit widened to a five-month high in April.

Central Bank of India plunged 5 percent after its Q4 net loss widened from last year.

State-run oil marketing companies such as BPCL, HPCL and IOC were moving lower as oil extended gains for a third straight session amid mounting tensions in the Middle East.

InterGlobe Aviation fell 4 percent on reports that serious differences have cropped up between the two founders of IndiGo.

SpiceJet rose 1 percent to extend gains from the previous session after senior-most executives of jet Airways resigned.

Petronet LNG dropped 1.3 percent on reporting a 16 percent fall in quarterly profit due to inventory losses.

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