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Nifty retreats from record high on profit-taking

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Reuters MUMBAI
Last Updated : Aug 20 2014 | 3:46 PM IST

MUMBAI (Reuters) - The Nifty was unable to sustain gains after hitting a third consecutive record high earlier on Wednesday as investors booked profits in blue-chips such as Oil and Natural Gas Corp.

The falls broke a six-day rally that had been the longest winning streak since an eight-session run in mid-July.

The 50-share Nifty earlier rose as much as 0.32 percent to an all-time high of 7,922.70, surpassing its previous high hit on Aug. 19.

ONGC provisionally fell 2.8 percent while Tata Motors ended 1.5 percent lower.

The broader Nifty provisionally lost 0.38 percent.

(Reporting by Abhishek Vishnoi; Editing by Gopakumar Warrier)

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First Published: Aug 20 2014 | 3:38 PM IST

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