Published: Mon, April 16, 2018
Sci-tech | By Brandy Patterson

Sensex falls almost 300 points; Infosys tanks 4%

Sensex falls almost 300 points; Infosys tanks 4%

Mumbai: Heightened geo-political tensions in the Middle East, along with broadly negative Asian markets dragged the Indian equity indices in the red during the early morning trade session on Monday.

The Sensex settled at 34,305, up 112.78 points, while the broader Nifty50 ended at 10,528, up 47.75 points.

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

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Losses in the market were led by IT stocks which fell tracking selloff in Infosys shares.

Auto major Tata Motors share price declined over 5% today in the wake of reports that the company owned car-maker in UK, Jaguar Land Rover may cut almost 1,000 jobs. It was top loser on Sensex and Nifty.

The benchmark BSE Sensex fell almost 300 points as it went below 34000-mark in early trade amid weak Asian Cues after a US-led strike on Syrian targets fuelled fresh geopolitical concerns. The tech major's revenues grew by 7.2 per cent in dollar terms, while 5.8 per cent in constant currency terms, with operating margins coming in at 24.3 per cent.

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Tata Motors (-4.6%), Infosys (-3.6%), Axis Bank (-1.5%), HPCL (-1.3%) and Titan (-1.2%) were the top losers on the NSE. USA stock futures were pointing to a higher opening on Wall Street.

The Sensex managed to close in the positive zone for the eighth straight session today by climbing some 113 points following a slew of positive economic data that revived overall investors' sentiment despite mixed global cues.

Meanwhile, domestic institutional investors (DIIs) bought equities worth a net Rs 306.05 crore on Friday, as per provisional data.

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Among the sectoral indices on the BSE, Realty was up 1.82 per cent and Healthcare was up 1.11 per cent. 30-share BSE Sensex lost nearly 150 points to open below 34,000-mark, but the index soon mad e a comeback and was at 34,119.45, still 73.20 points down, at 9.30 am. Both these indices outperformed the Sensex.

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