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Sensex, Nifty Fall On Weak Asian Cues

Indian shares opened a tad lower on Monday, mirroring weakness in other Asian markets as Sino-U.S. tensions remained on investors' radar.

The benchmark S&P BSE Sensex dropped 160 points, or 0.3 percent, to 48,874 in early trade, while the broader NSE Nifty index was down 58 points, or 0.40 percent, at 14,375.

Information technology shares were losing ground on profit taking after recent strong gains. Infosys and TCS fell about 1 percent.

HCL Technologies was marginally lower. The IT services major said it plans to hire about 20,000 people over the next two quarters.

Wipro rose half a percent after completing its Rs. 9,500-crore share buyback program.

Dewan Housing Finance Corporation surged 5 percent after the Piramal Group reportedly emerged as the winning bidder for the company.

HDFC Bank gained 2 percent after its Q3 net profit rose 18 percent on improved asset quality.

Metropolis Healthcare advanced 1.8 percent after the diagnostic chain said it would acquire Dr Ganesan's Hitech Diagnostic Centre Pvt Ltd in a cash and stock combination deal.

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