Nifty down over 0.5 percent; recent outperformers fall

Reuters Market Eye - The Nifty falls 0.7 percent as profit-taking continues to weigh on Monday after the broader index hit a record high on Friday.

Recent outperformers fall: Housing Development Finance Corp down 1.3 percent, Kotak Mahindra Bank Ltd down 1.7 percent.

Tata Motors down 1.3 percent after slumping 5 percent on Friday over price cuts in China by unit Jaguar Land Rover.

Cairn India is up 2 percent after falling 10.7 percent in previous two sessions on loan to parent group company.

Larsen & Toubro is down 0.5 percent ahead of results.

(Reporting by Abhishek Vishnoi)