After plunging over 1,400 points earlier in the day, the 30-share BSE Sensex on Monday pared some losses to
finish at 49,159.32, down 870.51 points or 1.74 per cent.
Similarly, the broader NSE Nifty sank 229.55 points or 1.54 per cent to 14,637.80.
Bajaj Finance was the top laggard in the Sensex pack, plunging 5.81 per cent, followed by IndusInd Bank, SBI, M&M, Axis Bank, Bajaj Auto and ICICI Bank.
IT stocks stood tall amid the carnage, with HCL Tech leading the gainers' chart with a jump of 3.08 per cent.
TCS, Infosys, Bharti Airtel and Tech Mahindra were the other winners, gaining up to 2.32 per cent.