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India shares begin New Year with losses as banks slump

MUMBAI (NewsRise) -- Indian shares edged lower on the first trading session of 2017, as investors dumped banking stocks after lenders slashed interest rates over the weekend, fueling fears that their profitability would take a hit.

The benchmark BSE Sensex declined 0.1% to 26,595.45 points in thin trading as most of global markets were shut for the New Year. The broader NSE Nifty 50 index ended 0.1% lower at 8,179.50 points.

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