The BSE Sensex provisionally fell on Thursday on profit-taking, led by declines in banking stocks as hopes of a rate cut by the central bank faded while cigarette maker ITC dropped on regulatory worries.
ICICI Bank ended 1.27 percnet down while HDFC Bank fell 1.28 percent. They had earlier gained after the unexpected fall in July inflation boosted hopes for monetary easing by the Reserve Bank of India.
ITC fell 3.6 percent on fears about regulatory action at home after Australia called on the world to match its tough new anti-tobacco marketing laws that will ban logos on cigarette packs.
Goldman Sachs said Reliance Industries can potentially become a $100 billion stock by fiscal 2017 from its current market capitalisation of around $46.6 billion. The stock closed at 5-month high and above psychological mark of 800.
The BSE Sensex provisionally ended down 0.44 percent at 17,650.02 points, while the 50-share Nifty also fell 0.32 percent to end at 5,362.95 points.