Published: Mon, April 16, 2018
Sci-tech | By Carrie Guzman

Sensex Tanks 293 Points On Weak Asian Cues; Infy Falls 4%

Sensex Tanks 293 Points On Weak Asian Cues; Infy Falls 4%

U.S. stocks fell last Friday as weakness in shares of banks and finance firms added to the political and trade tensions weighing on the market.

Infosys, Dewan Housing Finance Corporation, Tata Motors, TCS and Escorts were the top traded individual stock futures contracts in F&O segment of NSE. Inflation based on wholesale prices eased marginally to 2.47 per cent in March on cheaper food articles, especially pulses and vegetables.

The US Dow Jones Industrial Average ended 0.50 per cent lower in Friday's trade.

Wholesale inflation was 2.48 per cent in February and 5.11 per cent in March a year ago.

The index had risen 1,173.88 points in the past seven sessions.

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The only difference - this will be a summit of heads of government, not including heads of state. The information was later confirmed by the External Affairs Ministry.

However, towards the middle of the session, revival of buying, spread over a broad front, helped wiping out initial losses and touched the day's high of 34,341.46 before settling higher by 112.78 points, or 0.33%, at 34,305.43.

Shares of Infosys fell 3.86 per cent to Rs 1,123.90 less-than-expected FY19 revenue guidance.

At around 12.58 p.m., the NSE Nifty50 was down 9.50 points or 0.09 per cent to trade at 10,471.10 points. 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. Intra-day, it hovered between 10,396.35 and 10,540.15.

On the other hand, Cipla (1.80%), Mahindra & Mahindra (0.87%), Adani Ports and Special Economic Zone (0.84%), ITC (0.81%), Larsen & Toubro (0.69%), and Kotak Mahindra Bank (0.64%) were the biggest gainers in the Sensex.

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

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