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Sensex, Nifty Snap Three-day Winning Streak

Indian shares fell on Wednesday to snap a three-session winning streak amid weak global cues and ahead of the release of industrial output and numbers.

The benchmark 30-share S&P BSE Sensex dropped 193.65 points or 0.48 percent to 39,756.81 while the broader Nifty index ended down 59.40 points or 0.50 percent at 11,906.20.

Yes Bank tumbled 3.2 percent after Moody's Investors Service placed the bank's Ba1 foreign currency issuer rating under review for a downgrade.

Indiabulls Housing Finance slumped nearly 8 percent to extend losses from the previous session on allegations its chairman and directors have siphoned off money worth thousands of crores.

Tata Steel rallied 2.7 percent after the European Commission formally announced its decision to prohibit the proposed European steel joint venture between Tata Steel and Thyssenkrupp AG.

Shares of newly-listed Neogen Chemicals hit a new high before ending higher by 17.8 percent at Rs. 363 on the NSE.

Globally, markets fell across Asia and Europe after the Trump administration escalated threats to hit Beijing with new tariffs and China's foreign ministry said it would respond firmly if the U.S. insisted on escalating its standoff with China.

Concerns of slowing growth in China also weighed on investors' risk appetite after a measure of China's factory gate inflation slowed in May on weak commodity demand.

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