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Market broke its three day winning streak as investors booked profits at higher levels. Also, weakness in Asia and Europe dragged domestic benchmark share indices lower with private banks and capital goods shares leading the decline.
The 30-share Sensex was off 273 points at 20,176 and the 50-unit Nifty was down 89 points at 5995.
Asian markets retreated from their recent highs as investors and booked profits after gains in the previous five straight sessions. The Nikkei which had surged nearly 5% in the previous three sessions ended down 1.8%, the Hang Seng and Shanghai Composite were down 0.5% each while Straits Times which had seen a correction yesterday was trading with marginal gains.
European shares were also trading weak weighed down by profit taking in select bank shares and global food major Nestle. CAC, DAX and FTSE down 0.2-0.4% each.
