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Sensex, Nifty fall for second session, financials drag

Brokers trade at their computer terminals at a stock brokerage firm in Mumbai January 6, 2015. REUTERS/Shailesh Andrade/Files

(Reuters) - The Sensex and Nifty fell for a second straight session on Wednesday with financials leading the decline, as fears of faster interest rate hikes in the United States hurt investor risk appetite.

The Nifty closed below 10,500 for the seventh time in nine sessions, ending 0.58 percent lower at 10,492.85.

The Sensex closed down 0.47 percent at 34,184.04.

Investors now await October-December gross domestic product data due later in the day for clues about the domestic economy.

(Reporting by Arnab Paul in Bengaluru; Editing by Subhranshu Sahu)