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Sensex Falls For Fifth Day; Nifty Hits One-month Low

Indian shares fell for a fifth consecutive session on Monday, tracking weak cues from global markets, after a strong U.S. jobs report for January helped fuel expectations that the Federal Reserve will lift borrowing costs more than the three times initially expected this year.

Investors also looked ahead to the RBI policy review due this week amid expectations that the central bank will tighten its monetary policy stance in the wake of growing concerns over fiscal slippage.

The benchmark BSE Sensex fell 309.59 points or 0.88 percent to 34,757.16, extending losses for the fifth straight session. The broader Nifty index hit its lowest level in a month before closing down 94.05 points or 0.87 percent at 10,666.55.

Both HDFC Bank and ICICI Bank declined around 1.5 percent after they have approved JFC Finance (India) Ltd's bid to acquire the insolvent Palogix Infrastructure.

Mortgage lender HDFC lost over 4 percent, Larsen & Toubro shed 3.4 percent and IndusInd Bank gave up 2.6 percent while Bajaj Auto, ONGC, Kotak Bank, Indiabulls Housing Finance and Adani Ports fell around 2 percent each.

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