Sensex plunges 208 pts; Infosys tanks 7% as Sikka resigns
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The BSE benchmark Sensex fell nearly 208 points and Infosys tanked over 7 % in early trade after Vishal Sikka resigned as MD and CEO with immediate effect.
Besides, weak global cues on a deadly attack in Spain and rising concerns over the fate of US President Donald Trump's economic agenda also influenced investors sentiment.
The markets also witnessed intense selling pressure in recent gainers.
The Sensex plunged by 207.75 points or 0.65 % to 31,587.711 with the sectoral indices led by IT, teck, bank, healthcare, metal, auto and realty, tumbling up to 2.43%. The gauge had gained 581.87 points in the previous three sessions.
On similar lines, the National Stock Exchange index Nifty dropped by 73.95 points or 0.74 % to 9,830.20. Brokers said sentiment on the domestic bourses suffered a jolt following a meltdown global equities on a deadly attack in Spain and renewed concerns over the fate of US President Donald Trump's economic agenda.
Other laggards that dragged down the key indices were Sun Pharma, HDFC Ltd, Tata Motors, SBI, Kotak Bank, HDFC Bank, Lupin, Adani Ports, Axis Bank, Dr Reddy's, Coal India and Tata Steel.
In Asia, Japan's Nikkei fell 1.02 %, while Shanghai Composite Index was quoting 0.33 % lower in early trade today. Hong Kong's Hang Seng index too shed 0.82 %.
The Dow Jones Industrial Average ended 1.24 % lower in yesterday's trade.
Other Latest News
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Maharashtra Deputy Chief Minister and NCP head Ajit Pawar on Monday said discussions were underway among the Mahayuti partners to finalise a formula for the new government formation in the state.
Speaking to reporters at Karad in Satara district, Pawar also acknowledged the contribution of the government's Ladki Bahin scheme, which provides financial assistance to women, in the Mahayuti's victory in the just-concluded state assembly polls.
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Police have lodged seven FIRs in connection with the violence over a court-ordered survey of a Mughal-era mosque here, naming Samajwadi Party MP Zia-ur-Rehman Barq and local SP MLA Iqbal Mehmood's son Sohail Iqbal as accused, officials said on Monday.
The district administration has already imposed prohibitory orders and barred the entry of outsiders into Sambhal till November 30.
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A day after violence rocked Uttar Pradesh's Sambhal, Leader of Opposition in the Lok Sabha Rahul Gandhi on Monday said the BJP's use of power to create a rift between Hindus and Muslims was neither in the interest of the state nor the country.
He also urged the Supreme Court to intervene in the matter as soon as possible.
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The Karnataka High Court has dismissed a petition seeking quashing of an FIR against two individuals accused of defrauding e-commerce giant Amazon of over Rs 69 lakh.
Justice M Nagaprasanna described the case as an example of modern age crime.
The petitioners, Sourish Bose and Deepanvita Ghosh, had sought to have the FIR and a magistrate court's order taking cognisance of the case set aside.
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India’s Adani Group said it has enough cash flows to service debt obligations, as it sought to reassure creditors after a US bribery probe against founder Gautam Adani triggered a selloff in the conglomerate’s stocks and bonds.
Cash balances exceed long-term debt repayments for the next 28 months, while portfolio level cash balances were at $6.33 billion, the port-to-power conglomerate said in a report for the first six months of the financial year ending March 2025 released Monday.
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