Infosys tanks as Sikka resigns Sensex plunges 208 points

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 Thursday’s trade.

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