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Sensex, Nifty Open Lower On Weak Global Cues

Indian shares opened lower on Thursday, with concerns over a continued surge in coronavirus cases as well as rising global trade and geopolitical tensions denting sentiment.

The benchmark S&P BSE Sensex dropped 192 points, or 0.55 percent, to 34,676 in early trade, while the broader NSE Nifty index was down 52 points, or half a percent, at 10,253.

Karur Vysya Bank surged 5.5 percent after reporting a 40 percent increase in its Q4 net profit.

Reliance Industries gained 1 percent. The Competition Commission has cleared Facebook's proposed acquisition of 9.99 percent stake in Jio Platform.

Bharti Infratel tumbled 3 percent after its board extended the long stop date for the long pending merger with Indus Towers to 31 August.

State-run oil marketing companies BPCL and HPCL rose about 1 percent as oil extended losses after falling more than 5 percent in the previous session.

Apollo Hospitals Enterprises gained 1.4 percent, Bank of India edged up marginally and Engineers India soared as much as 8.7 percent before unveiling their March quarterly earnings.

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