Weak March quarter results by Infosys, coupled with downbeat global sentiment, put equity markets under pressure on Monday morning.
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Sensex Today: Weak March quarter results by Infosys, coupled with downbeat global sentiment, put equity markets under pressure on Monday morning.
The S&P BSE Sensex declined 581 points to quote at 59,850, while the Nifty50 slipped below the 17,700-mark to 17,685.
Other IT stocks, including Tech M, HCL Tech, TCS, and Wipro dropped up to 7.5 per cent.
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Other losers were HDFC Bank (down 1 per cent), HDFC (0.9 per cent), Tata Motors (down 0.5 per cent).
In the broader markets, the BSE MidCap and Smallcap indices slipped 0.3 per cernt each.
Among sectors, the Nifty IT index plunged 6.45 per cent, followed by the Nifty Financial Services index (down 0.24 per cent)
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Global Cues
Asian stocks opened cautiously on Monday as U.S. earnings season gets into full swing, while a raft of Chinese data will offer insight into how the world’s second-largest economy is recovering.
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Wall Street ended lower on Friday as a barrage of mixed economic data appeared to affirm another Federal Reserve interest rate hike, dampening investor enthusiasm after a series of big U.S. bank earnings launched first-quarter reporting season.
