Mumbai: Falling for the third straight session on Monday, benchmark Sensex tumbled by 572 points to close at nearly a two-month low due to heavy selling in Kotak Mahindra Bank, forex outflows and uncertainty related to the India-US trade deal.
The 30-share BSE barometer tanked 572.07 points or 0.70 per cent to settle at 80,891.02, a level not seen since June 4.
A total of 2,874 stocks declined while 1,264 advanced and 161 remained unchanged on the BSE.
The 50-share NSE Nifty declined 156.10 points or 0.63 per cent to close at a nearly two-month low of 24,680.90.
As many as 35 Nifty shares declined, and 15 advanced.
Nifty has tanked over 2 per cent or 539 points while Sensex retreated by 1,835 points or 2.2 per cent to trade at near two-month low levels.
Among Sensex firms, Kotak Mahindra Bank tumbled the most by 7.31 per cent after the company reported a consolidated net profit of Rs 4,472 crore for the June quarter, and flagged stress on the retail commercial vehicle portfolio due to adverse macroeconomic conditions.
Bajaj Finance dropped 3.64 per cent amid asset quality concerns, while Bharti Airtel fell by 2.35 per cent.
Tata Consultancy Services dropped 1.76 per cent amid reports that the IT major has decided to lay off over 12,000 employees. Titan, HCL Tech and SBI were also among the laggards.
However, Hindustan Unilever, Asian Paints, ICICI Bank, Power Grid, HDFC Bank and ITC were the gainers.
The BSE smallcap gauge tumbled 1.31 per cent and midcap index fell by 0.73 per cent.
Among BSE sectoral indices, realty tanked 4.11 per cent, followed by telecommunication (1.56 per cent), capital goods (1.49 per cent), BSE industrials (1.40 per cent), teck (1.21 per cent) and metal (1.06 per cent). FMCG and utilities were the gainers.
The rupee pared initial gains and settled 18 paise lower at 86.70 against the US dollar due to month-end dollar demand from importers.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,979.96 crore on Friday, according to exchange data.
Global oil benchmark Brent crude climbed 0.91 per cent to $69.05 a barrel.