Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
July 28, Friday 2017 12:07 PM       

       HEADLINES: Man held for trying to sell deer musk                                              P T Usha to boycott Malayalam visual media                                              K R Narayanan's cemetery turns controversial                                              Amit Shah to contest Rajya Sabha polls from Guj                                              Modi congratulates Nitish after resignation                                              Nitish Kumar back to NDA fold, to take oath as Bihar CM tomorrow                                              Nitish Kumar is new Bihar CM, Sushil Modi his deputy                                              Lalu dubs Nitish an 'opportunist'                                              White House says Trump supports sanctions on Russia                                              Sri Lanka labour to 154 for 5 after India fold for 600                                              Kaumudi Facebook
       BUSINESS Next Article: Infosys plans Rs 13,000 cr pay-out via buyback, dividend  
       Markets feel Infosys heat, Sensex dives 182 pts
 
         Posted on :17:18:21 Apr 13, 2017
   
A A
       Last edited on:17:18:21 Apr 13, 2017
         Tags: Markets feel Infosys heat, Sensex dives 182 p
 

MUMBAI: Technology stocks took a beating on Thursday after Infosys' share buyback plan and revenue outlook failed to move investors as the Sensex dropped 182 points to an over two-week low and the Nifty broke below 9,200.

On top of it, disappointing macro numbers and persisting military concerns relating to the Korean peninsula and West Asia pulled down the indices.

In weekly terms, the Sensex fell 245.16 points, or 0.82 per cent, while the Nifty was down 47.50 points, or 0.51 per cent.

The 30-share index opened lower before slipping further when Infosys results raised concerns about others to follow.

It was down 182.03 points, or 0.61 per cent, at 29,461.45 at the close, a level last seen on March 28.

The barometer had lost 145 points in the previous session.

The 50-share NSE Nifty slipped below the 9,200-mark, falling 52.65 points, or 0.57 per cent at 9,150.80.

The IT index bore the brunt after Infosys revenue guidance and plan to return cash to shareholders fell short of the crease, going by the Street expectations. Shares of Infosys slumped 3.86 per cent. TCS and Wipro too came under pressure and fell.

"A weak start to the fourth quarter result season... and the disruptive global market dragged the domestic market down. Additionally, not-so-encouraging IIP, rise in food inflation and anticipation of below-normal monsoon impacted sentiment," said Vinod Nair, Head of Research, Geojit Financial Services.

The exchanges will be closed tomorrow for Baba Ambedkar Jayanti and Good Friday.

Mood dampened further after government data, released after trading hours yesterday, showed that industrial output slipped to a 4-month low by contracting 1.2 per cent in February and fuel prices drove retail inflation to a five-month high of 3.81 per cent in March.

Metal, capital goods, auto, FMCG, power and consumer durables indices all fell by up to 2.84 per cent.

A weak trend in Asia reflecting losses in the US because of continued geo-political trouble and comments by US President Donald Trump on the greenback roiled the scene.

According to financial services major Nomura, India's GDP growth is likely to decelerate to 6.7 per cent in the March quarter but will gradually recover, which cast its shadow, traders added.

Tata Steel, Tata Motors, Adani Ports, Bharti Airtel, Maruti Suzuki, L&T and ITC, too ran up losses. A total of 18 scrips out of the 30-share Sensex pack lost while 12 others closed higher.

The broader markets were ahead of the benchmark, with the BSE small-cap and mid-cap advancing.

There was no respite from selling by foreign portfolio investors, who net sold shares worth Rs. 580.70 crore yesterday, showed provisional data.

Other key stocks in Asia too ended lower. Europe remained in the negative zone.

A A
       BUSINESS
Next Article: Infosys plans Rs 13,000 cr pay-out via buyback, dividend
 
 
BUSINESS HEADLINES
HarperCollins launches business imprint  
Indian banks most at risk among South, S-E Asian peers: Poll  
Rupee surges 21p against dollar after no rate hike by US Fed  
RBI to cut repo rate by 25 bps on Aug 2: HSBC  
China accuses India of 'abusing' trade remedy measures  
Sensex rises 50 pts in early trade on earnings  
'India will emerge as one of biggest markets for IT services  
Nifty tops 10,000 for a moment, Sensex slips from record  
Why has RBI not yet given no. of scrapped notes, asks Oppn  
Rupee softens 5 paise against dollar  
Nifty surpasses 10,000 mark, Sensex up by 102 points in opening trade  
Need examples to deter benami deals, says Jaitley  
Jaitley introduces bill to replace Banking Regulation Ordinance in Lok Sabha  
40% of India's GDP outside GST: Chidambaram  
DeMo, GST to widen tax base, make cash dealing difficult: FM  
Pak may face economic instability if reforms stop: IMF  
UN selects Dubai as data hub for MENASA region  
Nifty ends above 9,900, RIL leads  
Sensex's early rise hits a bump, IT weighs  
Australia to help Sri Lanka combat its worst dengue fever  
Niti panel yet to finalise report on autonomous bodies: Govt  
GST win-win deal for all: Jaitley  
Rupee rallies for 3rd session, hits near 6-week high  
NSSO to conduct survey on drinking water in July 2018  
Cabinet clears draft bill to replace GST ordinances for J&K  
 
P U Chithra issue: Is it fair to blame P T Usha?
yes
 
no
 
don't know
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy