The BSE Sensex fell 133 points, pulled down by Hindustan Unilever (HUL) and ICICI Bank, which posted their quarterly results on Friday. Cautious investors booked profits ahead of the Reserve Bank of India's (RBI) monetary policy review meeting next week amid a weak trend in equity markets globally.
HUL was down 2.14 per cent, although its net profit rose by 17.12 per cent to Rs 806.92 crore for the second quarter ended September 30, 2012, over the same period previous fiscal.
ICICI Bank was down 0.73 per cent. Its net profit was up 20 per cent at Rs 2,390.37 crore in the second quarter of current financial year.
Top heavyweight Reliance Industries (RIL) was also down sharply.
The 30-share index of the Bombay Stock Exchange, which gained 49 points on Thursday, fell 133.29 points, or 0.71 per cent, at 18,625.34 led by stocks of consumer durables, FMCG and banks.
The NSE 50-stock index, Nifty, was down 41 points or 0.72 per cent at 5,443.30.
Brokers said selling was more pronounced in banking and interest-related stocks ahead of RBI's monetary policy on October 30.
A weak Asian trend and lower openings in Europe propelled selling. Investors were also seen reducing their positions following corporate results by bluechips in domestic as well as overseas markets.
Reliance Industries dropped 1.39 per cent, Infosys by 0.69 per cent and Cipla by 1.84 per cent.
Shares of State Bank of India, Punjab National Bank and Indian Overseas Bank dropped on concerns of a potential increase in bad loans in the July-September quarter.
With inputs from PTI