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Sensex, Nifty Modestly Higher In Early Trade

Indian shares were modestly higher on Friday despite mixed global cues after data showed the U.S. economy suffered its worst period ever in the second quarter, with GDP falling a historic 32.9 percent.

The benchmark S&P BSE Sensex inched up 100 points, or 0.26 percent, to 37,835, while the broader NSE Nifty index was up 43 points, or 0.39 percent, at 11,145.

Reliance Industries dropped 1.4 percent despite posting better-than-expected Q1 earnings.

Tata Communications soared 5 percent after its first-quarter consolidated profit after tax jumped over threefold.

Dabur India climbed 2.9 percent on reporting a 6 percent fall in Q1 profit.

Reliance Infrastructure fell 2.6 percent as it reported a consolidated net loss of Rs 288.41 crore for the quarter ended June 30.

State Bank of India jumped 2.6 percent, Tata Motors rose 0.6 percent and Sun Pharmaceutical Industries edged up 0.4 percent ahead of their quarterly results.

Torrent Pharmaceuticals surged nearly 9 percent as it reported 44 percent rise in consolidated profit before tax for the first quarter ended June 30, 2020.

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