Indian shares fell 1.29 percent on Thursday, tracking weak global markets, as investors took profits with share prices at near 17-month highs, dealers said. The benchmark 30-share Sensex index fell 219.43 points to 16,789.74. Trading sentiment remained weak for the third straight day, as property and consumer goods stocks fell.
Index heavyweight Reliance Industries also slipped, as India's Supreme Court continued to hear a high-profile case to resolve a dispute between the billionaire Ambani brothers over the supply of gas. The hearing which began Tuesday, will continue on Friday. Reliance shares were down 48.9 rupees or 2.24 percent to 2,133.55 while RNRL fell two rupees or 2.31 percent to 84.7 on Thursday at the Mumbai stock exchange.
Losers led gainers 1,875 to 871 on turnover of 57.76 billion rupees (1.23 billion dollars). India's top property firm DLF fell 23.25 rupees or 4.93 percent to 448.75 and the largest private sector bank ICICI Bank fell 37.9 rupees or 4.08 percent to 891.05.