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India shares extend losses as fuel retailers, blue chips decline

Uncertainty after Karnataka state polls, rising US yields also damp investor enthusiasm

MUMBAI (NewsRise) -- Indian shares extended losses on Thursday, weighed by the decline in heavyweights and fuel retailers.

The BSE Sensex fell 0.7% to 35,149.12 and the Nifty 50 Index declined 0.5% to 10,682.70. Bharat Petroleum slipped 1.9% and Indian Oil slid 0.9% as Brent crude oil prices crossed the $80 per barrel. Heavyweights ITC fell 2.4% and Housing Development Finance Corp. declined 2.1%, the biggest contributors to the Sensex's losses. Tata Steel slipped 1.9% following its March quarter earnings. Hindalco Industries dropped 2.8%, extending losses from Wednesday after it reported a 25% fall in net profit during the last quarter.

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