By Abhishek Vishnoi
MUMBAI (Reuters) - The BSE Sensex and Nifty fell on Monday, retreating from a more than one-month high hit earlier in the session as investors booked profits after recent strong gains, while consumer goods maker Hindustan Unilever
The declines came after the indexes had gained for five consecutive sessions in the week through Wednesday. Share markets were closed Thursday and Friday to mark a religious holiday.
Shares of companies facing regulatory probes also continued to slump, with DLF
Recent gains might have outpaced the outlook for corporate profits, investors said. Key July-September earnings of top companies, including Hindustan Unilever, Tata Consultancy Services
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"July-September earnings have been mixed. Nothing phenomenal compared to rising expectaions. Some profit-booking would continue till the end of the results season," said U.R. Bhat, managing director at Dalton Capital, a unit of U.K.-based investment management firm Dalton Strategic Partnership LLP that manages nearly $2 billion in assets.
Near-term direction would also hinge on the U.S. Federal Reserve meeting's outcome due Wednesday, the Reserve Bank of India's policy and the winter session of parliament scheduled in the coming months, Bhat added.
The benchmark BSE Sensex fell 0.37 percent, or 98.15 points, to end at 26,752.90.
The broader Nifty lost 0.29 percent, or 22.85 points, to end at 7,991.70, closing below the psychologically important 8,000-level.
Both the indexes pared gains after earlier marking their highest intraday levels since Sept. 23.
Hindustan Unilever ended down 5.1 percent, marking its biggest single-day fall since Jan 2011, after its July-September volume growth at 5 percent failed to beat some analysts' estimates, stoking worries of a slowdown in consumer spending despite the ongoing festival season.
Among other companies facing regulatory probes, Jindal Steel and Power
An unprecedented ban on India's largest listed property developer DLF Ltd from tapping capital markets has fuelled expectations of tougher penalties ahead, as the country's regulators feel emboldened to take on even companies long sheltered by political connections.
Cairn India
Oil and Natural Gas Corp
India's defence equipment makers, however, rallied after local media reported defence projects worth 800 billion rupees ($13.07 billion) were cleared on Saturday by the government.
Bharat Heavy Electricals
(Editing by Biju Dwarakanath)