Reuters Market Eye - The benchmark BSE Sensex is down 0.46 percent, heading for a 1.8 percent fall for the week, its biggest in eight weeks. The Nifty is down 0.47 percent.
Blue-chips such as Reliance Industries Ltd fall 1.9 percent, while Larsen and Toubro Ltd is down 2.5 percent on profit-taking for a third consecutive session .
Losses tracking lower Asian shares after a sudden reversal in some very popular, and thus crowded, trades sparked a bout of global risk aversion.
Also, traders point out anxiety ahead of Infosys Ltd's quarterly earnings on January 10 and inflation data mid-month.
Infosys shares are up 2.3 percent ahead of its results next week.
(Reporting by Abhishek.Vishnoi)
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