SENSEX DROPS 400 POINTS: MARKETS TANK AS IT STOCKS FALL; INFOSYS DOWN 4%

Benchmark stock market indices tanked in early trade on Friday, breaking off the positive momentum seen in the past few days. The decline was led by a sharp fall in IT sector stocks after Infosys announced Q3 results after trading hours on Thursday. 

The S&P BSE Sensex was down 430.02 points to 76,612.80, while the NSE Nifty50 tumbled 121.05 points to 23,190.75 as of 9:22 AM. 

In a challenging opening session for IT stocks today, the overall Nifty IT index reflected weakness, falling 2.18%. 

Only two companies managed to start the day in green - L&T Technology Services gained 0.81% and Tata Consultancy Services (TCS) edged up marginally by 0.01%.

The rest of the sector faced selling pressure, with Infosys leading the declines with a sharp fall of 4.25%, followed by LTI Mindtree which dropped 2.09%.

Wipro fell 1.08%, while Coforge declined 0.88%. HCL Technologies slipped 0.90%, and Tech Mahindra decreased by 0.82%. Mphasis fell 0.46%, while Persistent Systems declined 0.44%.

2025-01-17T04:13:39Z