Infosys shares fall 5% on downgrade reports

Shares of IT services major Infosys fell five per cent in early trade today amid reports of stock downgrade.

The company's stock plunged 4.88% to Rs 3,643.25 on the BSE.

At the NSE, it was down 4.96% to Rs 3,641.

The stock was the biggest loser among the 30-bluechips on the Sensex.

As per media reports, global financial services major Citigroup has downgraded Infosys to 'neutral' from 'buy'.

Infosys will declare its July-September quarter earnings on Friday.

Meanwhile, in the broader market, the benchmark BSE Sensex was trading lower by 31.66 points at 26,240.31 during afternoon trade.