Science

Sensex falls almost 300 points; Infosys tanks 4%

Sensex falls almost 300 points; Infosys tanks 4%

The correction in the market was witnessed as traders reacted negatively to a report from the University of MI showing a bigger than expected drop in consumer sentiment in the month of April.

Geopolitical tensions over Syria and trade war concerns weighed on the domestic unit.

According to official data released on Monday, India's WPI inflation softened to 2.47 per cent in March from a rise of 2.48 per cent reported for February and an acceleration of 5.11 per cent in the corresponding month of past year.

On the other hand, Cipla (1.80%), Mahindra & Mahindra (0.87%), Adani Ports and Special Economic Zone (0.84%), ITC (0.81%), Larsen & Toubro (0.69%), and Kotak Mahindra Bank (0.64%) were the biggest gainers in the Sensex.

Rising for the 8th straight session the Sensex zoomed over 100 points at while the Nifty reclaimed 10,500 level on Monday as the wholesale price-indexed (WPI) inflation softened in March.




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.

The BSE market breadth was bearish with 1,445 declines and 982 advances.

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.

Shares of Infosys fell 3.86 per cent to Rs 1,123.90 less-than-expected FY19 revenue guidance. The broader Nifty too, opened below a milestone mark - that of 10,400 as it opened 80 points in the red, but had pared nearly the entire loss in morning trade.


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