Sensex loses 320 pts; Infosys declines 7.8%

The Nifty posted its biggest daily decline in nearly four months and its third fall over the past four sessions on Thursday, as Infosys slumped after its president resigned, while profit-taking continued to hit shares after record highs earlier this month. The Sensex also posted its biggest fall since February 3.

Analysts said markets would take a breather ahead of the Reserve Bank of India's policy review next week and ahead of policy announcements from Narendra Modi's government that will need to fulfill high expectations.

The Sensex fell 321.94 points, or 1.31 per cent, to 24,234.15 points, its biggest fall since February 3. The Nifty closed 94 points, or 1.28 per cent, lower at 7,235.65 points, falling the most since February 13.

Infosys Ltd fell as much as 7.84 per cent, its biggest single-day fall since March after its president and board member BG Srinivas, seen by some investors as a candidate to take over as CEO, resigned.