Markets crack; Infosys stock hammered down

Posted By:

Markets crack; Infosys stock hammered down
Markets came under intense selling pressure, as Friday the 13th, proved a bad omen for the Infosys stock which collapsed a staggering 12.66% today, following disappointing revenue guidance for FY 13.

The BSE Sensex closed the day lower by 238 points at 17,094 points, while the NSE Nifty closed the day lower by 69.40 points. Infosys dragged the markets and all other IT stocks lower along with it. The likes of TCS, Wipro, HCL Technologies, Mahindra Satyam, Mphasis and Tech Mahindra all lost ground.

Poor cues from around the globe also saw sentiments turn sour. All of the European markets were trading lower today. Among the few gainers in trade today were Kotak Mahindra, Sun Pharma, Dr Reddys Laboratories and Sun Pharma.

With the Infosys results now behind markets are eagerly awaiting the Monetary Policy Review slated for April 17. Should the RBI decide to cut the repo rate, it might help improve sentiments and perk-up stock prices.

Read more about: bse, tcs
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?