Markets back in red Infosys zooms over 4%
Markets finished lower on Thursday amid a volatile trading session following weakness in global markets however Infosys helped in arresting further downside.
Mumbai: Markets finished lower on Thursday amid a volatile trading session following weakness in global markets however Infosys helped in arresting further downside. Experts assume that the markets will be under volatile conditions in the next few months, even as the Indian economy is growing on a firm footing. Even the midcaps have started falling as the market sentiment turned lackluster.
Sensex fell 81 points to close at 24,773 and Nifty down 26 points to end at 7,537. Meanwhile, the broader markets also underperformed with midcap and smallcap indices fell over 1 per cent each. On the sectoral front, shares of banks, capital goods and auto experienced selling pressure and on the other hand, good buying is seen in technology, healthcare and FMCG stocks.
It is the day of Infosys, which zoomed over 4 per cent amid high volumes. The company reported better than expected Q3 results, also up guidance. Other IT stock like Cyient and Mastek however lost up to 5 per cent upon disappointing earnings. While healthcare stock improved with Lupin, Cipla and Dr Reddy's hit higher on fresh buying interest, meanwhile metal stocks pushed down on global weakness with Hindalco, SAIL, JSW Steel, Jindal Steel, Vedanta down between 0.5 per cent and 7 per cent.
The gainers: Infosys, up 4.28 per cent at Rs 1,128.70; Lupin, up 3.02 per cent at Rs 1,717.95; Asian Paints, up 2.39 per cent at Rs 890.20; Cipla, up 0.85 per cent at Rs 613.90; and DrReddy's Lab, up 0.84 per cent at Rs 2,915.20.
The losers: Axis Bank, down 3.90 per cent at Rs 390.55; Tata Steel, down 3.36 per cent at Rs 238.70; BHEL, down 2.81 per cent at Rs 143.80; Tata Motors, down 2.63 per cent at Rs 354.85; and State Bank of India (SBI), down 2.56 per cent at Rs 195.80.