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Indices retreat from record highs

Reuters Mumbai
The BSE Sensex fell on Thursday after touching its ninth consecutive record high, as state-run banks such as State Bank of India (SBI) slumped on concerns about losses on their debt portfolios as domestic bonds extended a slide this week.

Shares were also hit as blue-chips, including Reliance Industries fell on profit-taking ahead of European Central Bank's policy decision later in the day and monthly US jobs data on Friday.

Nifty fell 0.24 per cent after earlier rising as much as 0.36 per cent to a lifetime high of 6,776.75.

The falls marked the index's first fall in 11 sessions.

 
The BSE Sensex fell 0.19 per cent after earlier rising as much as 0.31 per cent to a record high of 22,620.65.

Still, heavy foreign buying has continued to underpin share gains. Foreign investors bought a net Rs 595 crore worth of shares on Wednesday, bringing the total since February to nearly $3.5 billion.

State-run banks fell after the benchmark 10-year bond yield rose to as high as 8.99 per cent, the highest level since December 6, triggering worries about potential mark-to-market loss on their bond portfolios.

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First Published: Apr 03 2014 | 10:42 PM IST

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