Sensex falls on profit-taking after touching new life high

Reuters Market Eye - The BSE Sensex falls 0.54 percent, while the broader Nifty is down 0.55 percent on profit-taking after earlier hitting a ninth consecutive record high.

The Sensex rose as much as 0.31 percent to a record high of 22,620.65, while the Nifty rose as much as 0.36 percent to a life-high of 6.776.75, crossing Wednesday's high of 6.763.50.

Among blue chips, Reliance Industries Ltd and ICICI Bank Ltd fall 1 percent each.

Larsen & Toubro Ltd falls 3.5 percent after the Economic Times newspaper reported India's biggest engineering firm, was going to trim its 1.7 trillion rupees order book by about 10 percent, without specifying how it got to the estimates.

 

IDFC Ltd falls 1 percent after earlier surging as much as 8.8 percent on worries regulatory requirements for banks would weigh on its return ratios after the Reserve Bank of India on Wednesday granted preliminary bank licence to the infrastructure sector lender.

Applicants who failed to win a licence at this stage slumped: L&T Finance Holdings Ltd plunges 9.4 percent, while LIC Housing Finance Ltd is down 1.8 percent

(Reporting by Abhishek Vishnoi)