Sensex, Nifty Modestly Lower In Early Trade

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Indian shares opened modestly lower on Monday on concerns that Brent oil prices could spike to $80 a barrel after U.S. Treasury Secretary Steven Mnuchin has warned of "very strong" sanctions on Iran and Russian President Vladimir Putin warned that further Western attacks on Syria would bring chaos to world affairs.

The benchmark BSE Sensex was down 68 points or 0.20 percent at 34,124, while the broader Nifty index was down 16 points or 0.15 percent at 10,464.

Infosys tumbled 4 percent after the company lowered its EBIT margin guidance. HCL Technologies, Tech Mahindra, Tata Motors and Wipro lost 1-2 percent.

ICICI Securities rose over 1 percent after its quarterly profit jumped 91 percent from a year earlier.

IL&FS Engineering rallied 4 percent on securing a pipeline laying contract worth Rs 129.66 crore from GAIL.

Aurobindo Pharma gained 1 percent on receiving the U.S. FDA approval for an allergy drug.

Strides Shasun added half a percent on receiving approval from the U.S. health regulator for Cyproheptadine Hydrochloride tablets.