Market fell for the second day in a row on Tuesday to close below the psychologically important 17000 mark after five days as the sentiments remained down with investors fearing that a rate hike is imminent now. The benchmark Sensex on the Bombay Stock Exchange rose by over 100 points in early trade on reports that higher advance tax payments by India Inc. indicated robust third quarter performance.
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However intense selling emerged soon and the 30 share barometer settled the day with a hefty loss of 220 points or sensex down by 1.23%. Marketman attributed selling to fears that the Reserve Bank would signal lenders to hike interest rate by tightening its monetary stance.
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