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Sensex, Nifty Edge Lower In Early Trade

Indian shares opened a tad lower on Thursday, tracking weak global markets as concerns about rising coronavirus infections and new regional lockdowns in the U.S. and Europe overshadowed more upbeat Covid-19 vaccine news.

The benchmark S&P BSE Sensex dropped 78 points, or 0.2 percent, to 44,102 in early trade, while the broader NSE Nifty index was down 15 points, or 0.1 percent, at 12,923.

Hero MotoCorp rallied 3.6 percent. The company announced that it managed to sell around 14 lakh units of motorcycles and scooters during the 32-day festive season.

TCS gained about 1 percent after its shareholders approved a Rs 16,000-crore share buyback plan.

Lakshmi Vilas Bank plunged 20 percent to extend losses from the previous session.

RBI-appointed administrator has assured depositors of the bank that their money is safe and the proposed merger with the Singaporean lender DBS will be completed before the deadline.

BPCL climbed 2.3 percent. The government has said that adequate interest has been received for the strategic disinvestment of the public sector refiner.

Pfizer surged 4 percent. The company's U.S. arm said that final results from the late-stage trial of its Covid-19 vaccine show it was 95 percent effective.

Wipro inched up 0.3 percent. The company said it aims to accelerate the pace of mergers and acquisitions.

Larsen & Toubro gained nearly 2 percent. The construction and engineering major said it has been awarded the biggest order ever for its construction and mining equipment businesses.

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