Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
August 21, Monday 2017 4:38 AM       

       HEADLINES: NIA registers FIR in Kerala’s ‘love jihad’ case                                              Gadgil slams Athirappilly project                                              Three killed after boat overturns in lake                                              Three run over by train in Alappuzha                                              Hashish oil of 20 crore seized in Idukki                                              Indian economy grew fastest under Modi govt: Amit Shah                                              298 Indians granted citizenship in past five years: Pak                                              US school teacher dies while 'laughing too hard'                                              WWII warship USS Indianapolis wreckage found after 72 years                                              Sreesanth reveals why he tucked in towel during IPL                                              Indian spinners restrict Lanka to 216 in Dambulla ODI                                              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
Banks stare at union strike on Tuesday, services may be hit  
NABARD sanctions Rs 1,350-cr loan to Rajasthan govt  
Murthy's shadow to loom large over search for Infy CEO  
Post note ban, separatists, Reds feel "fund-starved": Jaitley  
US law firms initiate investigation against Infosys  
Infosys board approves up to Rs. 13,000 cr buyback offer  
RBI to issue new fluorescent blue Rs 50 notes  
PM to launch Rs 15k-cr road projects in Rajasthan  
Sikka quits Infosys after Murthy campaign  
Nifty snaps 3-day winning spree, down 67 pts  
Maruti rolls out sporty 'Ciaz S' at Rs 9.39 lakh  
RBI still has room to slash rate in current fiscal: Kidwai  
Our full sympathy with agitating Noida home buyers: FM  
Videocon names Rajesh Rathi as business head  
Sensex surges 235 pts as geo-political tensions ease  
Sensex jumps 191 points, ignores weak IIP data  
Trai website to soon display telcos' tariff plans: Sharma  
NPA resolution to spur credit expansion, growth: Panagariya  
Sensex, Nifty snap 5-week winning streak on profit-booking  
200 Indian business reps see great investment opportunities in Kazakhstan  
FICCI for substantial slash in policy rates by RBI  
Kochi Shipyard makes strong market debut after $225 million IPO  
Gold tops Rs 30,000-mark, spurred by safe haven appeal  
Govt has not written off single rupee of corporate loans: FM  
Sensex losses mount on global sell-off, dives 336 pts  
 
Do you think conspiracy is going on to trap Senkumar in cases?
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