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Shares in refiners Hindustan Petroleum Corp and Bharat Petroleum Corp fell as much as 4.0 percent and 3.4 percent respectively after the firms and their state-run rival Indian Oil Corp cut petrol prices by about 3.2 percent, the first reduction in three years. At 9:16 a.m. (0346 GMT), the 30-share BSE index was down 0.76 percent at 16,757.75 points, with 25 of its components trading lower.