Renewed fears about an earlier-than-expected US rate hike weighed on sentiment too, brokers said. The 30-share BSE index resumed on a shaky wicket and continued to decline to hit a low of 27,614.32 as selling intensified before settling at 27,643.88, down 313.62 points, or 1.12 percent.

The gauge had gained 148.15 points in the previous session on Friday. Of the 30-share Sensex pack, 26 ended lower while ONGC, Bharti Airtel, Wipro and M&M advanced. The 50-issue Nifty slipped below 8,400 level by falling 88.70 points, or 1.05 percent, to close at 8,370.25. Intraday, it shuttled between 8,364.15 and 8,441.95.

Investors who had been accumulating stocks in the past few sessions on hopes of a rate cut by the Reserve Bank of India were seen trimming positions after earnings numbers from some blue-chips failed to meet expectations of the Street.

Shares of diversified group ITC fell 3.29 percent after its March quarter earnings did not cheer investors. ITC on Friday reported a modest 3.65 percent rise in standalone net profit at Rs 2,361.18 crore for the fourth quarter ended March 2015.
Vedanta lost most among Sensex and Nifty stocks, which tumbled 3.59 percent to Rs 200, as Goldman Sachs said in its report that copper demand will fall in coming 12 months on weak commodity demand growth in China, lower oil prices and a a stronger dollar.
The broader markets too saw profit-booking by investors. The BSE smallcap index ended the day with a fall of 0.22 percent while the midcap index was down 0.08 percent. A weak trend at European markets in the morning session and a hardening dollar after the US Federal Reserve indicated that the central bank is on track to raise interest rates this year dampened sentiment.
Sector-wise, BSE metal index suffered the most by falling 1.70 percent, followed by FMCG (1.62 percent), capital goods (0.87 percent), IT (0.74 percent), banking (0.69 percent), healthcare (0.60 percent), realty (0.45 percent), auto (0.28 percent) and power (0.16 percent).

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