Sensex ends lower as Infosys drops 8 per cent

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Sensex ends lower as Infosys drops 8 per cent
Markets ended the day lower after trading higher for most of the day, as the last one hour of trade saw profit booking in select counters.

The Nifty ended the day with losses of 23 points, while the Sensex ended the day lower by 88 points (provisional). Technology stocks ended the day sharply lower with Infosys leading the pack after the company did not give a very encouraging guidance. The stock was down 8 per cent, while TCS also ended the day lower. Both these stocks have a significant weightage in the Sensex.
Sun Pharma was the other stock that dropped sharply after the company received a US FDA import alert for one of its plants. The stock ended the day lower by 4 per cent.

BPCL was the star performer in trade jumping almost 8 per cent on value buying. HDFC Bank also lent support to the Nifty ending two per cent higher.

Other Nifty gainers were Hindalco and Hero Motor Corp.

The Bank Nifty managed to end the day higher after strong gains in HDFC Bank and Kotak Mahindra Bank. However, most of the other banks saw marginal gains. ICICI Bank touched a 52-week high in trade today.

The realty stocks were the worst performers in trade today with the dropping almost 3 per cent. DLF and Unitech were among the worst performers.

Meanwhile, markets in Asia ended the day with gains led by buying in buying in the Shanghai Composite and the Japanese Nikkei.

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