Stock Market LIVE Updates: Sensex falls 300 points and Nifty50 slides below 16,500 dragged

Buy HDFC Bank for a target of Rs 1,450 with a stop loss at Rs 1,350

Buy GAIL for a target of Rs 157 with a stop loss at Rs 145

ndian equity benchmarks BSE Sensex and NSE Nifty50 started Monday's session in the red dragged by IT shares, tracking a largely negative trend in other Asian markets.

Gains in oil & gas and financial shares, however, kept the downside in headline indices in check.

Broader markets also weakened, with the Nifty Midcap 100 and Nifty Smallcap indices declining up to half a percent.

All eyes are on the outcome of a bi-monthly review by the RBI due later this week.

The yield on the benchmark US Treasury note rose after the release of employment data on Friday, and this weighed on growth stocks in the US.

Aggressive money supply tightening in the world's largest economy could also hit demand for Indian IT services companies, and would also weighed on these stocks.