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Sensex, Nifty Modestly Higher In Early Trade

Indian shares opened a tad higher on Tuesday, after having suffered heavy losses the previous day on the back of surging Covid cases in the country and worries about fresh lockdowns.

The benchmark S&P BSE Sensex climbed 200 points, or 0.4 percent, to 48,083 in early trade, while the broader NSE Nifty index was up 63 points, or 0.4 percent, at 14,374.

Yes Bank gained 0.7 percent. The private sector lender said it will move the SAT Tribunal against a Rs 25 crore fine imposed by SEBI for allegedly mis-selling its AT-1 bonds.

TCS tumbled 3.4 percent despite reporting a 15 percent rise in Q4 profit.

Biocon rose over 1 percent after it opened Covid-19 vaccination centre at its Bengaluru campus of Syngene International Limited.

ONGC jumped 4 percent, a day after it invited bids for the sale of initial 2 million standard cubic meters per day of gas from its KG basin fields.

Magma Fincorp declined 1.4 percent. The Competition Commission of India (CCI) has cleared buying of majority shareholding in the company by Adar Poonawalla-controlled Rising Sun Holdings and two other individuals.

Adani Ports dropped half a percent. S&P Dow Jones Indices has removed the stock from its sustainability index.

Vedanta advanced 1.7 percent after it entered into a pact with research institutes for value extraction from bauxite residue.

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