Sensex Down 78 Points in Early Trade; Infosys Tanks 6% - The New Indian Express

Sensex Down 78 Points in Early Trade; Infosys Tanks 6%

Published: 29th May 2014 09:59 AM

Last Updated: 29th May 2014 10:00 AM

MUMBAI: The benchmark BSE Sensex declined by nearly 78 points in early trade Thursday as several stocks suffered losses on selling by funds and retail investors ahead of monthly expiry in the derivatives segment.

The 30-share barometer, which had gained 6.58 points in yesterday's choppy trade, moved down by 77.78 points, or 0.32 per cent, to 24,478.31 with IT, auto, PSUs, metal and banking stocks leading the fall.

Also, the National Stock Exchange index Nifty shed 13.25 points, or 0.18 per cent, to 7,316.40.

Brokers said offloading of positions by foreign funds and retail investors on the last session of May's expiry in the derivatives segment and mixed cues from other Asian markets influenced the trading sentiments.

Shares of Infosys plunged 6.10 per cent to Rs 2,978.75 after the company yesterday announced the resignation of board member and President B G Srinivas who was considered among the top contenders for the first non-founder CEO post.

Among other Asian markets, Japan's Nikkei fell 0.58 per cent, while Hong Kong's Hang Seng was trading 0.22 per cent higher in early trade.

The US Dow Jones Industrial Average ended 0.25 per cent down in yesterday's trade.

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