Infosys Drags Equities Down, Sensex Falls 100 Pts, Nifty At 17,634; HDFC Duo Shine

Domestic equities tanked for the third day straight on Wednesday, dragged by Infosys, as BSE benchmark Sensex plunged 66.7 points, or 0.11 per cent to 59,660.31, while broader NSE’s Nifty50 fell 16.10 points, or 0.09 per cent to open at 17,644.05.

Weak Q4 results by TCS and Infosys have spooked investors over the effect of the banking crisis on the IT sector, and have dragged domestic equities down.

By 9.25 am, Sensex fell further, and was down 107 points, or 0.18 per cent, while, Nifty was down 26.20 points, to 17,633.95.

Broader markets were largely mixed, as Nifty Microcap 250 gained 0.37 per cent, while Nifty Smallcap 100 and Nifty Smallcap 250 rose 0.34 per cent. Nifty Next 50 plunged 0.12 per cent at open, while, Nifty 100 was down 0.08 per cent. India Vix, on the other hand, climbed 1.61 per cent at open.

Infosys was the biggest loser at open as the stock was down 1.59 per cent, meanwhile, Asian Paints fell 1 per cent, followed by Hindustan Unilever a 0.95 per cent. ONGC, Wipro, HCLTech, Tata Consumer, Nestle India, and Sun Pharma were the top losers during the opening trade today.

Meanwhile, Divis Lab, Apollo Hospitals, Adani Enterprises, Tata Steel, M&M, Eicher Motors, Coal India, HDFC and HDFC Bank were the top gainers in the opening session.