Reuters Market Eye - The BSE Sensex falls more than 100 points after four days of gains, while the broader Nifty is down over 40 points as blue-chip shares including HDFC fall on profit-taking.
Traders also point to waning hopes of a one-time diesel price hike which may help check India's worsening fiscal deficit situation.
Housing Development Finance Corp Ltd falls 3.6 percent, while ITC Ltd falls 1.2 percent after gaining nearly 4 percent on Monday.
However, foreign institutional investors turn net buyers in the secondary share market after 11 consecutive sessions of selling a total of about $1 billion.
The BSE Sensex was trading down 0.6 percent while the Nifty fell 0.9 percent at 1047 IST.
(Reporting by Abhishek Vishnoi)
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