Key Points
Benchmark stock market indices settled lower on Monday despite paring losses seen in early trade as IT stocks failed to recover..
The S&P BSE Sensex fell 520.25 points to 59,910.75, while the NSE Nifty 50 settled 121.15 points lower at 17,706.85..
IT stocks were the top losers on the 50-share index, led by Infosys, Tech Mahindra and HCL Tech...
The weakness in IT stocks comes after weaker-than-expected Q4 performance by Tata Consultancy Services (TCS) and Infosys, two of Indias biggest IT firms...
Though TCS demand outlook was better, the management remains uncertain about the future in the wake of tense global economic environment this year, further aggravated by the recent banking turmoil in the US...
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