Weak global cues and HSBC survey showing that manufacturing sector output fell in the month of May, wreaked havoc at the stock markets on Monday.
Sensex dropped by almost 150 points to end at one-month low level of 19,610.48. However, Infosys jumped nearly 9 per cent on hopes that co-founder NR Narayana Murthy, who will be assuming the post of executive chairman, will propel back the IT major into high-growth trajectory. The stock closed 4.4 per cent up.
Among Sensex components, 20 stocks declined led by Reliance Industries, ICICI Bank, HDFC Bank, HDFC ltd, Maruti Suzuki, Hero MotoCorp, Bajaj Auto and Sun Pharma.
Auto stocks fell as auto companies reported weak sales for the month just gone by. Shares of two-wheeler makers declined as OMCs raised petrol rate, traders said.
Meanwhile, continuing its free fall for the fifth straight session, the rupee on Monday slumped by 26 paise to hit a new 11-month low of 56.76 on fag-end dollar buying and capital outflows from local equities. Forex dealers said bleeding domestic stocks and a weakening bond market firming up the dollar in turn, weighed upon the rupee.