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India stocks decline as investors await Karnataka state elections

Poll results to be testament to Prime Minister Modi's policies

MUMBAI (NewsRise) -- Indian shares pulled back from more-than-three-month highs on Thursday as investors turned their attention to elections in the southern state of Karnataka.

The BSE Sensex declined 0.2% to 35,246.27 and the Nifty 50 Index dropped 0.2% to 10,716.55. Heavyweight ITC was the biggest contributor to the losses, ending 0.9% lower. Zee Entertainment Enterprises fell 0.4%, while Asian Paints lost 0.8% ahead of their earnings due later Thursday. Oil and Natural Gas Corp. advanced 2.9% after Brent crude prices rose to fresh three-and-a-half years.

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