Indian share markets witnessed selling pressure on Monday, with Sensex falling to levels of 48,580, as rising Covid-19 cases kept a check on investor sentiment. India reported over 1 lakh new cases for the first time since the onset of the pandemic.

The BSE Sensex ended  870 points lower at 49,159, while the NSE Nifty slipped 229 points at 14637-mark. HCL Tech, TCS, Wipro, Britannia and Infosys were among major gainers on the Nifty while losers include Bajaj Finance, IndusInd Bank, SBI, Eicher Motors and Mahindra and Mahindra

Among the sectoral indices, the Nifty Bank index fell over 1,150 points to end at 32,678. Five out of the top 10 losrs on the Nifty 50 index were private financials. The PSU Bank index was the top sectoral laggard, ending 4.1 percent lower.

Nifty Realty and Nifty Media indices also saw losses of over 3 percent in today's trading session. The Auto index fell 2.5 percent while the FMCG index declined 1.6 percent. 

Investors found some solace in firm global cues that helped contain further downside for the market. The selling in the market was mostly broad-based, with only stocks from IT and metals sector managing to hold their head above water while the PSU bank stocks were the worst hit.

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