Sensex tumbles nearly 483 points on selling in IT, banking shares

TCS is scheduled to announce its financial results later in the day

Benchmark stock indices opened the week on a muted note on Monday, with the Sensex plunging nearly 483 points due to selling in IT, capital goods and banking shares amid losses in global equities.

The Sensex tanked 482.61 points or 0.81% to settle at 58,964.57. During the day, it tumbled 552.78 points or 0.92% to 58,894.40.

The 50-issue Nifty declined by 109.40 points or 0.62% to finish at 17,674.95 as 29 of its stocks declined.

From the Sensex pack, Larsen & Toubro, HCL Technologies, Infosys, Wipro, Asian Paints, HDFC, HDFC Bank, Axis Bank were the major laggards.

In contrast, ICICI Bank, NTPC, Kotak Mahindra Bank, TCS and UltraTech Cement were among the gainers.

TCS is scheduled to announce its financial results later in the day.