The benchmark BSE Sensex on Monday retreated from its two-month highs by falling 108.85 points to 27,361.96 as earnings numbers from heavyweights Bharti Airtel and HDFC Ltd failed to cheer investors.
Profit-booking in PSU, oil and gas, consumer durables, metal and banking stocks also added to the rout as the index fell from over two-month highs hit in the previous session.
The BSE barometer after rising over 147 points in early trade to hit a high 27,618.14 soon slipped into the negative zone after participants preferred to book profits in recent gainers and touched a low of 27,318.20.
Finally, it settled 108.85 points or 0.40% lower at 27,361.96. The index had rallied by 183.15 points in the previous session to hit a two-month high of 27,470.81.
The NSE Nifty after rising past 8,300-mark to touch a high of 8,336.30 points in early trade, succumbed to profit-booking and ended 34.90 points or 0.42% down at 8,260.55.
Of the 30-pack Sensex, 15 shares ended with losses, while NTPC ended flat.
The rupee depreciating 18 paise to 65.01 against the US dollar (intra-day) also weighed. Shares of Coal India suffered the most by falling 2.40% followed by HDFC by 2.09% after the company posted a marginal rise in consolidated net profit to Rs 2,106.51 crore for the second quarter ended September 30.
Bharti Airtel slipped 1.91% even as its second quarter profit beat estimates. Other losers which contributed to the fall include RIL, Lupin, Axis Bank, ONGC, HDFC Bank, SBI, ITC, ICICI Bank, M&M, L&T and Cipla.
However, BHEL, Vedanta, Bajaj Auto, Tata Steel, Hero MotoCorp, HUL, GAIL, Dr Reddy’s, Sun Pharma, Tata Motors, Hindalco and Wipro cushioned the fall. Sector-wise, the BSE PSU index suffered the most by losing 0.99%, followed by oil&gas 0.95, consumer durables 0.87%, metal 0.70%, realty 0.69% and banking 0.63%.
Profit-booking by retail investors also dragged down small-cap index by 0.72% while mid-cap index shed 0.52%. Asian shares ended mostly higher after China slashed interest rates for the sixth time in a year. Europe, however, was mixed in its early deals.