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Sensex, Nifty Edge Higher In Cautious Trade
(RTTNews) - Indian shares traded slightly higher on Friday, mirroring firm cues from global markets as traders hoped for favorable outcome from ongoing trade negotiations and comments by a Federal Reserve official bolstered odds that the central bank will cut interest rates as early as June.
The benchmark S&P BSE Sensex was up 137 points, or 0.2 percent, at 79,938 in early trade while the broader NSE Nifty index edged up by 17 points, or 0.1 percent, to 24,263.
Tech stocks such as TCS and Infosys were up over 1 percent.
Reliance Industries rose over 1 percent and Maruti Suzuki India added half a percent ahead of their earnings results due today.
IndusInd Bank was marginally higher after denying media reports that claimed it stopped acquiring new customers for its microfinance business.
Axis Bank tumbled 3.4 percent as the private sector lender indicated it may take a few more quarters for asset quality to improve.
Tech Mahindra dropped 1 percent after revenue in constant currency terms fell 1.5 percent for the March quarter.
L&T Technology Services plunged 5 percent after Q4 net profit slipped 3.5 percent year-on-year.
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