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Sensex, Nifty Marginally Higher In Early Trade

Indian shares opened flat to slightly higher on Tuesday after steep losses in the previous session.

The benchmark S&P BSE Sensex was up 15 points at 40,378 after falling around 2 percent the previous day on worries about spreading coronavirus. The broader NSE Nifty index was up 8 points at 11,837.

State-run oil marketing companies were moving up, with IOC shares surging nearly 2 percent after oil prices slumped around 4 percent overnight amid rising concerns about the outlook for energy demand due to the rapidly spreading coronavirus outside China. ONGC shares rallied 1.9 percent.

TVS Motor Company slumped 6 per cent. The two- and three-wheeler maker said its production will fall 10 percent in February due to a shortage in its supply chain.

KEC International edged down slightly after its arm acquired an automated transmission tower manufacturing facility for Rs. 100 crore.

HUL climbed over 2 percent after its board approved formation of a new wholly-owned subsidiary.

Tech Mahindra shed 0.7 percent after it signed a pact to acquire Zen3 Infosolutions.

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