FII's sell suggestion clips Infosys

DALAL STREET SPIKES

Index heavyweight Infosys Technologies witnessed selling pressure with a leading FII selling its holding in the morning trade. The stock as a result ended Rs 115 lower at Rs 5,354.05 against its previous close of Rs 5,469.40.

Market analysts said, the early morning sell-off led to panic selling at this counter with total volumes accounting for more than 4.6 lakh shares at the BSE.

Sources added while the sentiment has not turned negative towards this counter, today's fall was more of profit booking by a large foreign fund.

The stock, in fact, has lost over 5 per cent since February 9 when it was trading at Rs 5,714. Analyst attributed huge volatility at this counter also a reasons for investors moving out of the counter.

However, a technology analyst said, the current quarter results were impressive and the company is expected to continue its momentum in the coming quarters on the back of solid growth in volumes.