Continued selling in IT stocks weighed on Indian markets pushing Sensex and Nifty 50 for a bearish start in the current week. On Monday, the Sensex dropped by more than 500 points and the Nifty 50 dipped over 150 points before correcting to end broadly flat. Smallcap stocks outperformed, while metal stocks witnessed major buying. A retreat in Asian counterparts ahead of the US Federal Reserve’s policy outcomes and inflation data further dampened sentiment. Indian rupee too weakened tracking a drop in Asian currencies as the dollar picked up momentum.