Sensex falls over 100 points on profit-taking after 5-day rally

Reuters Market Eye - The BSE Sensex falls on profit-taking, after gaining nearly 10 percent in a five-day winning streak on the back of strong foreign flows.

The Sensex and the Nifty fall around 0.7 percent.

Among private banks, ICICI Bank falls 2.2 percent while HDFC Bank is down 2.3 percent on profit-taking.

Jaiprakash Associates falls 6.5 percent after earlier rising as much as 2.1 percent on profit-taking after announcing a cement unit sale to UltraTech Cement Ltd on Wednesday.

Shares in Housing Development Finance Corp are off lows up 1 percent after falling as much as 2.3 percent as FTSE increased its "investability weight" to 100 percent from 74 percent in its global equity index series, as per its website.

 

However, shares in IDFC Ltd gain 7.5 percent after the Reserve Bank of India on Wednesday lifted restrictions placed on foreign investors purchasing shares of the company as their shareholding in IDFC fell below the prescribed limit.

(Reporting by Abhishek Vishnoi)