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Sensex Down Over 100 Points In Early Trade; Nifty Nears 11.650

Indian shares opened lower on Thursday, with weak earnings results from the likes of Yes Bank and MindTree as well as worries over the U.S.-China trade conflict keeping investors nervous.

The benchmark S&P BSE Sensex was down 113 points or 0.29 percent to 39,102 in early trade after three consecutive sessions of gains. The broader NSE Nifty index dropped 26 points or 0.22 percent to 11,661.

Yes Bank slumped 11 percent after the private sector lender reported a 91 percent drop in fiscal-first quarter profit on account of higher provisioning and lower other income.

MindTree lost nearly 9 percent after its profit for the June quarter halved and its margin narrowed owing to increased employee costs.

IT major Wipro rallied 2.5 percent on posting a 12.5 percent rise in consolidated net profit for the quarter ended June.

Allahabad Bank tumbled 2.6 percent after it has been hit by a fraud of Rs 688.27 crore by SEL Manufacturing.

ACC edged down slightly ahead of its quarterly results due today.

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