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BW Businessworld

Sensex Down Around 300 Points On Profit-Taking

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The BSE Sensex fell more than 200 points after four days of gains, while the broader Nifty is down 90 points as blue-chip shares including HDFC fall on profit-taking.

Traders also point to waning hopes of a one-time diesel price hike which may help check India's worsening fiscal deficit situation.

Housing Development Finance Corp Ltd falls 4.7 per cent, while ITC Ltd falls 1.8 per cent after gaining nearly 4 per cent on Monday.

However, foreign institutional investors turn net buyers in the secondary share market after 11 consecutive sessions of selling a total of about $1 billion.

The BSE Sensex was trading down 1.4 percent while the Nifty fell 1.7 per cent.

(Reuters)