Stock Market: Sharp fall in stock market, Sensex breaks 900 points, Infosys suffers huge loss

Share Market Opening: Today i.e. on April 17, the Indian stock market opened with a decline. Trading started on a flat note in the market on Monday. On the first trading day of the week, the 30-share major benchmark index BSE Sensex opened at a level of 60,385.90 with a fall of 45 points. At the same time, the Nifty of the National Stock Exchange ie NSE opened at 17,863.00 with a slight gain of about 32 points. After some time it came in the red mark and now both the benchmark index Sensex and Nifty are trading in the red mark.

Around 10:10 am, the Sensex fell 900.06 points (1.49%) to 59,530.94 and the Nifty slipped 228.25 points (1.28%) to 17,599.75.

In today’s early trade, IT index fell by 6% and BSE Capital Goods index by 0.5%, while Power index saw a gain of 1%.

Infosys, Tech Mahindra, Wipro, HCL Tech and TCS are majorly trading with losses on the NSE, while Power Grid, Dr Reddy’s Laboratories, Kotak Mahindra Bank, Eicher Motors and Nestle India are seen gaining.

Infosys shares fell over 10% in early trade today due to poor quarterly results. Infosys has reported a net profit of Rs 6,128 crore for the quarter ended March FY2023. Infosys’ fourth quarter net profit was lower than expected. At the same time, the market cap of Infosys decreased by Rs 13,897.67 crore to Rs 76,069.05 crore in the last week.

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