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Sensex, Nifty Marginally Lower In Early Trade; Healthcare And IT Stocks Rally

Indian shares were slightly lower on Monday, giving up early gains.

The benchmark S&P BSE Sensex was down 83 points, or 0.1 percent, at 71,511 in early trade while the broader NSE Nifty index was down 26 points, or 0.1 percent, at 21,757.

ONGC fell 1.3 percent after Q3 net profit declined 10 percent year-on-year.

Tata Power lost 2.5 percent on reporting a marginal rise in Q3 consolidated net profit.

Bandhan Bank tumbled 3.3 percent despite Q3 profit rising over two-fold.

Hero MotoCorp dropped 2.9 percent even as it posted 51 percent growth in quarterly net profit.

IRFC plunged 5.5 percent on logging a slight fall in Q3 profit.

Shree Renuka Sugars declined 2.1 percent as it logged a consolidated net loss of Rs 172.3 crore for the December quarter.

Multi Commodity Exchange of India shed 3 percent after reporting a net loss of Rs 5.35 crore in Q3.

Healthcare and IT stocks traded higher, with Dr Reddy's Laboratories, HCL Technologies, Wipro and Divis Laboratories climbing 2-4 percent.

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Highlights of a light week on the economics front were survey results for the U.S. services sector and the weekly initial jobless claims. Europe also saw the latest PMI survey results shedding light on the situation in the private sector. In the Asia-Pacific, central banks of Australia and India were in focus as they announced their policy decisions. Did they boost rate cut hopes or damp them? Read our stories to find out. In other news, China released inflation data for January.

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