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Sensex falls for second straight session; blue chips drag

Reuters
People watch a large screen displaying India's benchmark share index on the facade of the Bombay Stock Exchange (BSE) building in Mumbai December 9, 2013. REUTERS/Mansi Thapliyal/Files

MUMBAI (Reuters) - The BSE Sensex and Nifty fell for the second straight session on Monday, dragged down by heavyweights such as Reliance Industries(RELI.NS) and financial stocks, as caution prevailed ahead of the budget due on Feb 28.

Other blue chip stocks such as ITC Ltd (ITC.NS), Housing Development Finance Corp Ltd (HDFC.NS) and State Bank of India were also under selling pressure.

The benchmark BSE Sensex closed down 0.88 percent at 28,975.11, while the broader Nifty fell 0.89 percent to 8,754.95.

(Reporting by Indulal PM; Editing by Gopakumar Warrier)