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Sensex, Nifty Marginally Higher In Lackluster Trade

Indian shares were little changed in early trade on Wednesday, mirroring losses in global markets as investors awaited Fed chairman Jerome Powell's testimony before Congress for further cues on U.S. monetary policy.

Markets wonder whether Powell could sound less dovish than he did a few weeks ago.

The benchmark S&P BSE Sensex was up 42 points or 0.11 percent at 38,773 while the broader Nifty index was up 12 points or 0.11 percent at 11,568.

Hero MotoCorp slipped into the red after revamping top management.

BPCL and IOC were moving lower as oil rose more than 1 percent in Asian trading on industry data showing a fall in U.S. stockpiles for the fourth week in a row.

InterGlobe Aviation plunged 13 percent as the clash between the two founders took a serious turn for the worse, with Rakesh Gangwal complaining to SEBI about questionable corporate governance practices.

IT bellwether TCS dropped more than 2 percent after posting a mixed set of quarterly results.

Rival Infosys edged down slightly ahead of its first-quarter 2020 earnings results due on Friday.

Manpasand Beverages slumped 5 percent as Mehra Goel & Co, the statutory auditor to the company resigned.

Zee Media fell 2 percent after a downgrade of its credit ratings.

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