New Delhi, Dec. 1 -- Indian stocks pulled back sharply from the day's highs to close Monday's session, December 01, with losses, as sharp pressure from the Indian rupee, which touched a fresh all-time low against the US dollar, along with continued selling by overseas investors and fading hopes of an RBI rate cut later this week, weighed on market sentiment.

Though both key indices kicked off the session positively and even touched another record high following a stronger-than-expected second-quarter GDP print, they soon gave up their gains and slipped into negative territory.

The Nifty 50 dropped 150 points from the day's high to settle at 26,175, a 0.10% decline compared with the previous closing price, while the S&P BSE Sensex also c...