The benchmark Nifty plunged by 100 points, its biggest single-day crash in nearly two months, and settled below 8,500 on a heavy sell-off in auto, IT and metal stocks on the National Stock Exchange (NSE) today.
Focus of the day was on Infosys, which fell 4.84 per cent as four co-founders of India's second-largest software firm, along with their families, sold shares worth Rs 6,484 crore, a development which led to selling in other IT stocks too.
Investor sentiment was also dented due to selling by FIIs amid concern that interest rates may be hiked in the US after last Friday's strong job growth data in the world's top economy.
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Meanwhile, foreign portfolio investors (FPIs) sold shares worth a net Rs 109.45 crore on last Friday, as per provisional data from stock exchanges.
The 50-share index hovered between a high of 8,546.35 and a low of 8,432.25 before closing at 8,438.25, showing a loss of 100.05 points, or 1.17 per cent.
Asian stocks ended mixed after disappointing economic data from Japan and China, while European stocks traded lower in early trade.
Top losers included Sesa Sterlite (down 3.72 per cent), M&M (down 3.50 per cent), BPCL (down 2.86 per cent) and Jindal Steel (down 2.84 per cent).
Among a few heavyweight gainers were Coal India (up 2.26 per cent), ITC (up 1.65 per cent), Asian Paints (up 1.13 per cent) and UltraTech (up 1.08 per cent).
Turnover in the cash segment jumped to Rs 22,771.17 crore from Rs 17,152.37 crore on last Friday. A total of 8,486.71 lakh shares changed hands in 73,86,136 trades, while market capitalisation stood at Rs 96,97,267 crore.
