Nov. 10 (Bloomberg) -- India’s stocks fell, reversing earlier gains, as investors judged the 7.1 percent advance in the past four days as excessive.

Hindalco Industries Ltd., the biggest aluminum producer, fell 1.5 percent after the price of the metal slid on the London Metal Exchange. LIC Housing Finance Ltd., the mortgage lender controlled by India’s biggest life insurer, declined 1.1 percent after Citigroup Inc. advised investors to “lock in gains” given a possible peak in growth, profitability and valuations.

The Bombay Stock Exchange’s Sensitive Index, or Sensex, dropped 31.71, or 0.2 percent, to 16,467.01 at 1:12 p.m. in Mumbai, after rising as much as 1.1 percent. The S&P CNX Nifty Index on the National Stock Exchange declined 0.2 percent to 4,888.90. The BSE 200 Index lost less than 0.1 percent to 2,053.17.

To contact the reporter on this story: Rajhkumar K Shaaw in Mumbai at rshaaw@bloomberg.net

Last Updated: November 10, 2009 02:47 EST