Nifty falls, retreats from record high

reuters Market Eye - Nifty falls 0.4 percent, retreating further after hitting a record high at 6,562.85 earlier in the day, which had marked its third consecutive all-time high.

A fall, if sustained, would snap a five-day winning run in which the index gained 5 percent.

Profit-taking hits some of the recent outperformers: Reliance Industries Ltd is down 0.56 percent after surging 9.7 percent over the previous three sessions, while HDFC Bank Ltd loses 1.25 percent after jumping 9.8 percent over the same period.

Meanwhile, metal stocks continue to fall, with metal index falling 2.5 percent for the second consecutive day on rising fears of a slowdown in China. Tata Steel is down 4.04 percent while Hindalco Industries is down 3.69 percent.

 

(Reporting by Indulal PM)