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Sensex, Nifty Open Lower In Cautious Trade

Indian shares opened a tad lower on Monday as investors awaited cues from the latest batch of earnings results and the upcoming Budget.

The benchmark S&P BSE Sensex dropped 58 points, or 0.14 percent, to 41,887, while the broader NSE Nifty index was down 24 points, or 0.19 percent, at 12,329.

Future Enterprises was up nearly 2 percent. The Kishore Biyani-led Future Group has decided to massively scale down its digital strategy.

Jindal Steel and Power rose half a percent after its Q3 net loss widened.

HDFC Bank shed 0.8 percent. The country's largest private lender by market value has reported a nearly 33 percent jump in Q3 net profit.

TCS lost 1 percent after the IT major delivered a muted performance in the third quarter hobbled by structural changes in deals involving large banking and retail customers in the U.S.

Reliance Industries declined 1 percent after its operating profit fell the most in more than four years on a drop in refining margin and weak petrochemicals business.

Just Dial fell 2 percent ahead of its quarterly earnings later in the day.

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