Sensex sinks 4.5%, Infy hits mood | business | Hindustan Times
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Sensex sinks 4.5%, Infy hits mood

business Updated: Jan 13, 2011 23:09 IST
HT Correspondent

Below-expected results of Infosys for the third quarter and growing concerns over a hike in the overall interest rates pulled down the Bombay Stock Exchange benchmark Sensex by 351 points or 1.8% on Thursday to close at 19,182.8.

The Broader Nifty at the National Stock Exchange fell by 111 points to close at 5,751.9.

Infosys stocks fell by 4.8% during the day after the tech major announced a result weaker than market expectations.

Other IT companies too lost ground as the markets turned conservative on expectations from the sector. HCL Technologies fell by 3.1% and Wipro2.7%.

Banking stocks also lost heavily and heavyweights such as State Bank of India and ICICI Bank fell by 3.9% each, and HDFC Bank 2.9%. The Banking index was the top loser, falling 3.5%, followed by the IT index which lost 3.4% on Thursday.