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Sensex, Nifty Edge Lower In Early Trade

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(RTTNews) – Indian shares opened lower on Monday, tracking a subdued trend in other Asian markets as global Covid-19 cases neared 43 million and a stalemate in U.S. fiscal stimulus negotiations continued.

The benchmark S&P BSE Sensex dropped 103 points, or 0.25 percent, to 40,581 in early trade, while the broader NSE Nifty index was down 28 points, or 0.23 percent, at 11,903.

Reliance Industries fell nearly 2 percent. Amazon has won an interim order against partner Future Group selling its retail business to the company.

Kotak Mahindra Bank dropped half a percent on reports it is exploring potential takeover of IndusInd Bank. Shares of the latter rallied 3.2 percent.

Dr Reddy’s Laboratories was moving lower. The company said will test the Russian Covid-19 vaccine Sputnik V on 100 Indian volunteers for phase 2 clinical trials.

Nestle India advanced 1.6 percent after reporting better-than-expected numbers for the September quarter.

ICICI Bank declined half a percent on news it has shut down operations in Sri Lanka.