Nifty falls 1.6 pct; banks, Coal India slump

MUMBAI (Reuters) - The BSE Sensex and Nifty fell more than 1.5 percent on Friday after earlier hitting a record high for a seventh session in eight, as ICICI Bank and Bank of Baroda posted disappointing results, while Coal India fell on the government's discounted stake sale.

The Nifty <.NSEI> fell 1.6 percent, snapping ten consecutive sessions of gains to post its biggest daily fall since a 3 percent fall on Jan. 6 in the midst of an emerging market sell-off.

Still, for the month the Nifty gained 6.8 percent, its best monthly performance since May 2014 when the market rallied after the election of Prime Minister Narendra Modi as Prime Minister.

 

The benchmark Sensex fell 1.68 percent to 29,182.95. It gained 6.1 percent in January and added 0.3 percent in the week.

ICICI Bank , India's biggest private sector bank, fell 5.2 percent despite posting a record quarterly net profit after net non-performing assets rose.

Bank of Baroda , India's second-biggest lender by assets, slumped 11.1 percent after it reported a 69 percent fall in earnings.

Shares in Coal India Ltd down 3.8 percent after the government priced its sale of a stake at a 4.5 percent discount to Thursday's closing price.

(Reporting by Indulal PM; Editing by Anupama Dwivedi)