Monday Mayhem: Sensex crashes over 1200 points; check top losers and gainers 

Equity benchmark indices were trading sharply lower amid weak global cues on Monday. The key index was dragged down by heavyweights Infosys and HDFC twins amid weak trend in Asian markets. 

At 10:25 hours, Sensex was trading over 1,200 points lower at 57,102.01 and Nifty was down over 300 points to 17,147.85. 

From the 30-share pack, Infosys, Tech Mahindra, HDFC, HDFC Bank, Wipro, TCS and HCL Technologies were among the major laggards in early trade. In contrast, NTPC, Tata Steel, M&M, Maruti and Power Grid were among the top gainers. 

Shares of India's second-biggest IT services major Infosys Ltd tanked over 9 per cent to hit an intraday low of Rs 1,592.05 on BSE after the company posted its earnings for the quarter ended March 2022. 

The Bengaluru-based company reported a 12 per cent year-on-year (YoY) rise in its consolidated net profit at Rs 5,686 crore for the quarter ended 31 March, 2022.  The company had reported a net profit of Rs 5,076 crore in the year-ago period. 

Sequentially, Infosys reported 2.1 per cent decline in the current quarter Q4FY22 from Rs 5,809 crore in Q3FY22. 

HDFC Bank on Saturday announced that its standalone net profit jumped 22.8 per cent to Rs 10,055.2 crore for the quarter ended March 31, 2022. HDFC Bank had posted a net profit of Rs 8,186.5 crore in the year-ago period. Meanwhile, net profit for the year ended March 31, 2022 was Rs 36,961.3 crore. It was up 18.8 per cent over the year ended March 31, 2021. 

The bank's Net Interest Income (NII) rose 10.2 per cent to Rs 18,872.7 crore in the January-March quarter. The same stood at Rs 17,120.2 crore in the quarter ended March 31, 2021. 

Shares of Tata Steel were trading higher in an otherwise weak market as the Tata Group firm said the board would on May 3 consider a proposal to split the stock and also recommend a dividend. The large-cap stock opened at Rs 1,335 against the previous closes of Rs 1319.25 on BSE. 

Stock markets were closed on Thursday for Mahavir Jayanti and Dr Babasaheb Ambedkar Jayanti, as well as on Friday on account of Good Friday.