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Sensex, Nifty Fluctuate In Early Trade

Indian shares opened largely unchanged on Monday amid subdued global markets and continued rise in oil prices.

The sudden resignation of RBI Deputy Governor Viral Acharya six months ahead of the end of his three-month tenure, citing personal reasons, also kept investors nervous.

The benchmark BSE Sensex was down 24 points at 39,170 in early trade, while the broader Nifty index was virtually unchanged at 11,724.

IndusInd Bank rose over 1 percent on news its promoters will pump another Rs, 2,700 crore into the bank through a warrant issue.

ONGC lost 1 percent after the government recognized the company as promoter of HPCL.

Glenmark Pharmaceuticals fell over 2 percent as the U.S. FDA issued a complete response letter with regard to the new drug application for Ryaltris.

Jain Irrigation Systems dropped 1.6 percent after Fitch cut its long-term issuer rating.

Tata Steel edged up slightly as Fitch affirmed its rating with a stable outlook.

Lakshmi Vilas Bank jumped nearly 6 percent while Indiabulls Housing Finance was marginally lower after the Competition Commission of India approved their merger.

Bandhan Bank gained 0-.9 percent and Gruh Finance rose half a percent after NCLT approved their merger.

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