Bhullar's first round of 67 had placed him inside top-10 after the first day.
Also making the halfway cut was Shiv Kapur, whose rounds of 70 and 71 brought him to three-under 141 and tied 23rd place.
Bhullar, beginning on the back nine, had two birdies and two bogeys to turn in even par and then a birdie on first saw him in red figures, but bogeys on fourth and fifth set him back to 73.
Meanwhile, eight years after claiming his debut European Tour title, halfway leader Alejandro Canizares is hoping to return to winning ways at the Trophee Hassan II this weekend.
Canizares added a card of 68 to his first round 62 and at 14-under he was one ahead of Seve Benson (63-68) and four shots behind the latter was third-placed Rafa Cabrera-Bello (68-67) at nine-under.
Canizares won on only his third start as an affiliate member at the 2006 Russian Open, but has now played almost 200 events without adding a second trophy to his cabinet.
Benson is still looking for his first win after claiming three titles on the Challenge Tour, but the 27-year-old is in fine form having dropped just one shot in 36 holes.
Cabrera-Bello occupied third place on nine under after a 67 that threatened to be even better after covering his first nine holes in just 30 shots, but bogeys at the fifth and seventh halted his charge.
