Sensex down nearly 400 points; ITC falls 5 percent

MUMBAI (Reuters) - The BSE Sensex fell as much as 2 percent on Monday, with the Nifty retreated from a near 2-1/2 year high, as ITC slumped on profit-booking, while technology stocks such as Tata Consultancy fell on continued concerns about a U.S. immigration bill.

Weak Asian shares also weighed on sentiment. ITC Ltd fell 5 percent, while Tata Consultancy Services Ltd lost 2.4 percent.

The BSE Sensex declined 1.96 percent as of 2:55 p.m., heading towards its biggest daily percentage fall since May 2012, and retreating after ending on Saturday at its highest close since late January 2013.

The Nifty fell 1.9 percent, retreating from its highest close since January 2011.

 

(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)