The stock market index Sensex dropped 800 points on Monday and was trading at 50,090.23 points at 12.30 pm. Tech Mahindra was the top loser in the Sensex pack, shedding nearly 5%, followed by M&M, Axis Bank, L&T and TCS.

In the morning session, the markets markets opened flat and soon fell by 799.53 points. ONGC, HDFC Bank, Kotak Mahindra and Asian Paint were among the gainers.

In the previous session, Sensex ended 434.93 points or 0.85% lower at 50,889.76, and Nifty gave up the 15,000 level, dropping 137.20 points or 0.91% to 14,981.75.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 118.75 crore on Friday, as per exchange data.