Stocks

Sensex sheds 106 points as Infosys slashes revenue forecasts

Our Bureau Agencies Mumbai | Updated on January 17, 2018 Published on July 15, 2016

sensex

The Sensex and Nifty ended lower on Friday, underperforming Asian peers, as blue-chip Infosys Ltd declined as much as 10.6 per cent after the software services exporter posted disappointing results and slashed revenue forecasts.

The Nifty IT index fell as much as 4.2 per cent to a more-than four-month low, with Tata Consultancy Services also contributing to the fall over concerns about its outlook, given the potential Brexit impact.

The NSE index ended down by 23.6 points or 0.28 per cent at 8,541.40, after earlier hitting its highest since August 10.

The benchmark BSE index closed down 105.61 points or 0.38 per cent at 27,836.50, after earlier touching its highest since August 17.

Both the indexes gained 2.6 per cent on the week.

Among BSE sectoral indices, IT index plunged the most by 5.35 per cent, TECk 3.94 per cent, power 0.83 per cent and PSU 0.6 per cent. On the other hand, auto index was up 0.96 per cent, metal 0.6 per cent, capital goods 0.45 per cent and banking 0.29 per cent.

Major Sensex losers were Infosys (-8.81%), TCS (-3.11%), Wipro (-2.81%), Coal India (-1.48%) and NTPC (-1.2%), while the top five gainers were Tata Steel (+3.8%), Bharti Airtel (+3.32%), HDFC Bank (+1.95%), HDFC (+1.8%) and Tata Motors (+1.48%).

Meanwhile, foreign portfolio investors (FPIs) remained net buyers, purchasing shares worth Rs 869.84 crore yesterday, as per provisional data of the stock exchanges.

Reassuring Chinese data lifted world stocks to an eight-month high on Friday though Europe ended an otherwise strong week subdued after an attack by a gunman at the wheel of a truck in the south of France killed at least 84 people.

A report by IFA Global said: "US stock markets closed on a positive note, the Dow Jones Industrial Average closed higher by 134 points and Nasdaq index closed higher by 28 points. The US equity markets rose for fifth consecutive session and recorded its first five-day winning streak since March. European stock markets ended in the red, with FTSE closing marginally lower by 15 points and CAC closing marginally higher by 50 points, European indices rose after the Bank of England refrained from cutting rates post surprise Brexit vote. Asian stock markets are trading on a positive note, with Hang Seng index trading higher by 164 points and Nikkei index is trading higher by 189 points , following strong global cues and a slight pick-up in China's GDP number.''

Published on July 15, 2016
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