Nifty Modestly Higher In Early Trade

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Indian shares opened on a flat note on Thursday as investors assessed a slew of earnings reports and kept a wary eye on oil prices and bond yields in the U.S. for directional cues.

The benchmark BSE Sensex was up 64 points or 0.19 percent at 34,565 in early trade while the broader Nifty index was up 17 points or 0.16 percent at 10,587.

BPCL, HPCL and IOC were down between half a percent and 1.3 percent as Brent crude oil futures held steady above $74 a barrel on hopes for strong demand growth as well as concerns over supply disruptions in Venezuela and the Middle East.

Wipro tumbled 3.5 percent as it posted weak quarterly earnings after making provisions for an insolvent client and impairments.

Indiabulls Real Estate soared 7.4 percent and Mahindra & Mahindra Financial Services added 3.2 percent after posting encouraging financial results.

UltraTech Cement was little changed after its quarterly profit fell 29 percent due to one-time charges.

Future Retail dropped 0.6 percent after the NCLT's Mumbai bench approved a scheme of arrangement with Hypercity.

Emami advanced 3.4 percent after it proposed to consider a bonus issue.

Cadila Healthcare rose 1.3 percent after it received final approval from the U.S. FDA for Methylprednisolone.