Among major gainers, ITC, Reliance Industries, Dr Reddy's and HDFC rose up to 3 per cent.
Among the Sensex losers, Yes Bank tumbled 5.46 per cent, followed by Bajaj Finance 5.40, ICICI Bank 3.82 per cent, IndusInd Bank 3.10 per cent and HeromotoCorp 2.55 per cent.
The US Fed interest rate decision, domestic macroeconomic data announcements and ongoing quarterly earnings are some of the major factors that will drive the stock markets in a holiday-shortened week, analysts said. Besides, monthly auto sales numbers and the LIC IPO will also remain in focus, they added. Equity markets will remain closed on Tuesday for Id-Ul-Fitr (Ramzan Id). "The market is likely to kick off this week on a sombre note after a sharp fall in the US market then the focus will shift to the outcome of the US FOMC meeting, which is crucial amid record inflation and growth worries.
The broader NSE Nifty rose nearly 124 points to settle just below the psychological 11,000 level.
On the Sensex chart, Bharti Airtel was the biggest loser with nearly 3 per cent drop in its share price. It was followed by IndusInd Bank, Maruti Suzuki, HeroMoto Corp and Tata Steel.
HDFC, ONGC, Maruti Suzuki, HeroMoto Corp and Bajaj Auto gained the most on BSE Sensex
In September, sales of 125cc models - that include the Hero Glamour, Splendor, Pulsar 125, Victor Star City, among others - grew by a whopping 30 per cent over the same period a year ago to 305,615 units.
The stock markets, which had opened in the green on rate cut hopes, tumbled after the monetary policy announcement.
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
IndusInd Bank was down nearly 1% even after it reported a 21% rise in its fourth-quarter profit
Broader market outperformed the benchmark indices with S&P BSE Midcap gaining over 1%
Metal stocks were trading under pressure while IT, auto, realty stocks gained in today's deals
In the broader market, the BSE Midcap was down 0.2%, while BSE Smallcap fell 0.1%.
S&P BSE Midcap shed 0.8% while S&P BSE Smallcap tumbled 0.6%
Impact of the slowdown is most visible among promoter/owner-CEOs