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Sensex Up 122 Points In Early Trade; Nifty Climbs Above 12350

Indian shares opened higher on Thursday after the United States and China signed the first phase of a trade deal.

The benchmark S&P BSE Sensex was up 122 points, or 0.29 percent, at 41,995 after breaching the 42,000 level for the first time.

The broader NSE Nifty index was up 28 points, or 0.23 percent, at 12,371 after hitting a record high of 12,377.80 intraday.

Sterlite Technologies slumped 4 percent after its Q3 net profit fell 38 percent from last year.

Bharti Airtel rose half a percent and Vodafone Idea jumped more than 3 percent after reportedly submitting their applications for 5G trials.

Asian Paints edged down slightly. The Competition Commission of India has ordered a probe against the company for allegedly hindering the entry of JSW Paints.

Jet Airways lost 5 percent as London-based Hinduja group pulled out of the race, leaving only two contenders to acquire the airline.

IndusInd Bank shares fell around 1 percent to extend steep losses from the past two sessions.

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