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Sensex Up 120 Points In Early Trade; Nifty At 11,477

Indian shares opened higher on Wednesday, mirroring firm global cues as investors cheered upbeat earnings results from the likes of JPMorgan Chase, UnitedHealth, Citigroup and Johnson & Johnson.

The benchmark S&P BSE Sensex rose 120 points, or 0.31 percent, to 38,624 in early trade, while the broader NSE Nifty index was up 49 points, or 0.43 percent, at 11,477.

JSW Steel rose half a percent and JSW Energy gained 0.7 percent as JSW Group promoter Sajjan Jindal repaid Rs 1,200 crore of loans raised by pledging shares of group companies.

Multi Commodity Exchange soared 7 percent after reporting over two-fold jump in quarterly net profit.

Berger Paints edged up marginally after it agreed to buy 95.53 percent stake in Kolkata-based STPL.

Wipro rallied 3 percent as reported a 7 percent sequential growth in second quarter profit and guided for IT services revenue of $2,065 million to $2,106 million for the December quarter, translating to a sequential growth of 0.8 percent to 2.8 percent.

ACC climbed 2.8 percent after reporting a 44.66 percent rise in consolidated net profit for the September quarter.

SBI Life Insurance jumped over 3 percent on reporting over 48 percent decline in its quarterly net profit.

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