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Sensex, Nifty Drift Lower On Weak Global Cues

Indian shares fell on Wednesday, mirroring weak cues from Asia and Europe as anti-government protests in Hong Kong entered a third consecutive day of violent unrest and new worries around a U.S.-China trade agreement emerged.

Weak industrial output data released on Monday and a weakening rupee, which slipped below the 72-level against the dollar also weighed on markets.

The benchmark S&P BSE Sensex ended the session down 229.02 points, or 0.57 percent, at 40,116.06 while the broader NSE Nifty index dropped 73 points, or 0.61 percent, to 11,840.45.

Grasim, Adani Ports, Zee Entertainment Enterprises, GAIL and Yes Bank fell 4-6 percent in the Nifty pack, while Reliance Industries, TCS and Britannia Industries climbed 3-5 percent.

Yes Bank plunged 5.7 percent after reports that Sunil Munjal and Hemendra Kothari are in talks to buy stakes of 5-10 percent each in the cash-starved private lender.

Vodafone India plunged 7.5 percent after Vodafone said its future in India could be in doubt unless the government stopped hitting operators with higher taxes and charges.

Britannia Industries added 4.9 percent after its quarterly profit surpassed Street estimates.

Adani Green Energy advanced 1.9 percent on posting turnaround results for the July-September quarter.

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