Published: Mon, April 16, 2018
Research | By Raquel Erickson

Sensex falls almost 300 points; Infosys tanks 4%

Sensex falls almost 300 points; Infosys tanks 4%

According to government data, inflation based on wholesale prices eased marginally to 2.47 per cent in March on cheaper food articles, especially pulses and vegetables.

The BSE Sensex fell almost 300 points to trade below the 34,000 mark at day's low after a US-led strike on Syrian targets fuelled fresh geopolitical concerns.

The broader NSE Nifty too struggled before ending well above the 10,500-mark.

The 30-share index was trading lower by 77.41 points, or 0.23 per cent, at 34,115.24 at 1200 hrs, led by selling on IT, energy, consumer durables, telecom, auto, banking, oil & gas counters.

European markets ended in the green on Friday with the FTSE closing 0.09% higher, CAC ended up 0.11% while the DAX managed to end 0.22% higher.


Housing Development Finance Corp Ltd and HDFC Bank Ltd were the top contributors to the indexes with gains of 1.6 percent and 0.9 percent respectively.

BSE Sensex zoomed over 112.78 points at 34,305.43 and the NSE Nifty climbed 47.75 points to 10,528.35. Intra-day, it hovered between 10,396.35 and 10,540.15.

Infosys followed Tata Motors and lost over 3.10% at 1,132 level after the firm cut its margin guidance for FY19, and disclosed plan to sell Panaya and Skava during its Q4 earnings announcement on Friday.

Other major losers in the Nifty50 pack were Tata Motors, Wipro, Axis Bank, ONGC, NTPC, RIL, Dr Reddy's SBI, Bharti Airtel, ICICI Bank, Maruti Suzuki, Asian Paint and Tata Steel, falling by up to 1.54 per cent.

Among other Asian markets, Hong Kong's Hang Seng shed 1.44%, while Shanghai Composite Index was down 1.05% in early trade.

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