Sensex plunges 208 pts; Infosys tanks 7% as Sikka resigns

Reuters

Reuters

For the week, both Sensex and Nifty recorded gains of 311.09 points, or 0.99 per cent, and 126.60 points, or 1.30 per cent, respectively.

That said, the benchmark indexes finished well off their day's highs showing little change from the previous close.

Domestic equity indices snapped a three-day gaining streak to end on a negative note on Friday as shares of index heavyweight Infosys plunged 9.56 per cent to Rs 923.50, contributing over 200 points to the 271-point drop in Sensex. It fell by almost Rs 31,400 crore as per the Friday's intraday low of Rs 884.4 per share on BSE.

519 shares advanced against a decline of 252 shares, while 25 shares were unchanged displaying a healthy market breadth.

"The Nifty reversed trend in mid-morning trade after hitting its highest levels in more than a week in morning trade, it then bounced back in early afternoon trade".

In Asia, most of the indices gained after investors took heart from the minutes of a U.S. Federal Reserve meeting that showed policymakers wary about weak inflation, indicating that the Fed may slow the pace of rate increases.

Moore, Strange headed to runoff election
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Information technology also gained.

Overseas, European stocks edged lower as a terror attack in Barcelona weighed on investor sentiment.

Other laggards that dragged down the key indices were Sun Pharma, HDFC Ltd, Tata Motors, SBI, Kotak Bank, HDFC Bank, Lupin, Adani Ports, Axis Bank, Dr Reddy's, Coal India and Tata Steel.

On the other hand, Tata Consultancy Services (1.46%), Hindustan Unilever (1.05%), Bharti Airtel (1.04%), GAIL (India) (0.91%), Wipro (0.38%), and Reliance Industries (0.19%) were the major gainers in the Sensex.

At 1 PM: Rising for the third consecutive session on Thursday, BSE Sensex was up by 90 points or 0.28% at 31,861.03 while the wider Nifty was up by 33 points 9,931.05.

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