Business

Sensex down over 150 Points amid volatile trade; Infosys gives up early gains

The Fact News Service

October 15

Infosys shares will be in focus today, a day after the country’s second largest IT company raised its annual revenue growth forecast.

Domestic stock markets recovered most of their early losses in a volatile session on Thursday, as benchmark indices Sensex and Nifty halted a rally that lasted 10 days. The Sensex index fell as much as 166.82 points – or 0.41 per cent – to 40,627.92 in early deals, and the broader Nifty benchmark slid to as low as11,923.95, down 47.1 points – or 0.39 per cent – from its previous close. Weakness across Asian equities amid diminishing hopes of more stimulus in the US weighed on domestic markets, as analysts awaited more financial results from large cap companies for near-term cues.

According to reports in NDTV, Infosys shares traded 1 per cent lower at ₹ 1,124.85 at the time, having risen as much as 4.30 per cent earlier, a day after the country’s second largest IT services exporter raised its annual revenue growth forecast and posted a better-than-expected quarterly profit. Growth in demand for Infosys’s digital services during the pandemic boosted its profitability.

(story sourced through inputs from agencies)

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