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Sensex near three-month low on global risk-off

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Reuters Mumbai
Last Updated : Mar 04 2013 | 10:30 PM IST
The Sensex fell to near three-month lows on Monday, as global risk aversion sparked broad-based selling in domestic blue chips, including in Larsen & Toubro and Maruti Suzuki, at a time when sentiment is already weak.

European shares, the euro and oil prices all fell on Monday, as political stalemate in the US and Italy and China's plans for tighter controls on its property sector hit sentiment.

The global uncertainty has come on the heels of broad disappointment over the 2013-14 budget unveiled on Thursday and weak October-December growth data, with investors expecting a rebound in markets if the Reserve Bank of India (RBI) cuts interest rates later this month.

The benchmark BSE Sensex fell 0.21 per cent, or 40.56 points, to end at 18,877.96, near its lowest close since November 27 hit on Thursday. The broader Nifty fell 0.37 per cent, or 21.20 points, to end at 5,698.50, closing below the psychologically important 5,700 level.

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First Published: Mar 04 2013 | 10:30 PM IST

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