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Sensex halts rally, RIL & Coal India fall

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The Bombay Stock Exchange benchmark index, the Sensex, fell 0.3 per cent on Thursday as investors locked in gains after a three-day rally had sent the index to its highest close in more than six months, with another delay in sealing a crucial bailout for Greece also dampening appetite.

Energy major Reliance Industries (RIL) fell 2.9 per cent to its lowest close this month, and extending losses to a third day, on growing worries about falling gas output from its key D6 block. lost 4.2 per cent after surging more than seven per cent in the previous session.

Coal India, the world's biggest coal miner, slumped 5.8 per cent — its biggest fall in more than seven months — on concerns that a government order to sign a 20-year guaranteed coal supply contract with power producers may hurt earnings. Brokerage downgraded it to "sell" from "outperform" and cut target price to Rs 315 from Rs 350, dealers said.

The closed 0.3 per cent lower at 18,153.99, with 14 of its components ending lower. It had climbed 2.6 per cent in the past three sessions and is up 17.5 per cent since December.

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