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Sensex, Nifty Open Tad Higher In Cautious Trade

Indian shares opened flat to slightly higher on Friday as China struggled to stop a deadly virus from causing more damage.

The benchmark S&P BSE Sensex rose by 79 points, or 0.19 percent, to 41,465 in early trade, while the broader NSE Nifty index was up 31 points, or 0.25 percent, at 12,211.

KEC International advanced 1.7 percent on securing new orders of Rs 1,255 crore across its various businesses.

ONGC edged up slightly after it received a total of 28 bids for 50 out of 64 small and marginal oil and gas fields in the first round of bidding.

CDSL tumbled 3.3 percent as it reported a 24 percent fall in Q3 net profit.

DLF rose over 1 percent. The realty firm plans to invest Rs. 5,000 crore to develop a commercial project.

SpiceJet gained 1.6 percent after oil prices fell about 2 percent overnight on concerns over the outlook for energy demand following the outbreak of the coronavirus in China.

Meanwhile, the airline said it would take a "substantial" profit hit from the grounding of Boeing's 737 MAX aircraft.

Yes Bank soared 4 percent. SBI chairman Rajnish Kumar said that the private sector lender won't be allowed to fail.

Biocon lost 2.5 percent as it reported a near 7 percent decline in quarterly net profit.

Infosys slid half a percent. Market regulator SEBI said it would seek a forensic audit of the books of the IT major amid whistleblower allegations of alleged financial irregularities at the company.

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