Stock Market Highlights: The key benchmark indices plunged sharply to a low of 59,442 in early deals on Monday dragged by Infosys. The IT bellwether slumped 12 per cent to hit a 52-week low at Rs 1,219 on reporting a disappointing set of Q4 numbers, with net down 6.9 per cent on a sequential basis. The spillover effect saw the IT index slide as much as 4.7 per cent.
However, buying interest in FMCG and banking shares helped the benchmark indices recoup some of the lost ground. The S&P BSE finally ended 520 points lower at 59,911. In the process, it snapped its 9-day winning streak in which the index had rallied 2,816 points.
The NSE Nifty 50 recovered smartly from a low of 17,574, but yet ended with a loss of 121 points at 17,707.
Among the Sensex 30 shares, Infosys signed-off with a heavy loss of 9.4 per cent. Tech Mahindra, HCL Technologies, Wipro and TCS shed 2-5 per cent. Larsen & Toubro, NTPC and the HDFC twins were the other major losers.
HDFC Bank, which declared its earnings over the weekend, was down 1.7 per cent. Analysts believe a re-rating in the stock would happen as and when more clarity emerges on the smooth merger with HDFC.
READ MORE The broader indices outperformed the benchmark indices. The BSE Midcap index gained 0.5 per cent, while the Smallcap index added 0.2 per cent. The overall breadth too was marginally positive, with 1,850 shares advancing versus 1,730 declining stocks on the BSE.
 "Sensex snaps 9-day rally, sinks 520 pts; Infy cracks 9%; banks limit losses")
