Nifty edges lower after hitting record high

MUMBAI (Reuters) - The Nifty edged lower on Monday after earlier hitting a second consecutive record high as gains in blue chips such as Tata Consultancy Services were offset by a slump in resources firms following the Supreme Court's ruling on coal allocations.

The Supreme Court on Monday held as illegal all coal blocks allocated by the government to various firms between 1993 and 2009, adding that a final decision on the fate of the blocks would be taken next week.

As a result, Jindal Steel and Power provisionally slumped 15 percent, while Hindalco Industries dropped 10 percent.

That offset gains in blue chips, including a 2.3 percent gain in Tata Consultancy Services .

The Nifty provisionally fell 0.09 percent, snapping a two-session winning streak after earlier hitting a record high at 7,968.25 points.

But the Sensex provisionally rose 0.07 percent, having earlier hitting a record high at 26,630.74 points.

(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)