3 reasons why the Sensex ended 861 points lower at 57,973 levels on Monday

Monday's market mayhem was led by the IT pack as Nifty IT index cracked over 4 per cent. Tech M, Infosys, HCL Tech, Wipro and TCs slipped 2-5 per cent.

Equity markets slumped on Monday as Dalal Street pull-backed after the US Fed diminished the optimism that the it may turnaround from its aggressive monetary policy amid declining commodity prices. The US central bank instead said that the era of interest rate increases is far from over.

The BSE Sensex index tanked 1,467 points to hit an intra-day low of 57,367 on Monday, while the NSE Nifty50 sank 393 points to touch the day’s low of 17,166. However, both the indices recovered losses partially as the trade progressed.

While the Sensex ended the day at 57,973 levels - down 861