Nifty slips 24 pts on deep tech sell-off, Infosys crashes 8 pc

Benchmark Nifty retreated from its 11-month high and ended lower by 24 points after software major Infosys lowered its revenue guidance, spooking investor sentiment and triggering a massive slide in technology stocks.
The overall trading sentiment was also overshadowed by a terror attack in France.
Technology stocks suffered their biggest drop in recent past and their worst sell-off this year so far after Infosys slashed its annual sales forecast, despite a 13 per cent rise in net profit a day after TCS, India's biggest outsourcer, reported 9.9 per cent jump in net profit for the first quarter.
However, strong buying activity in rate sensitive counters in the face of robust capital inflows amid hopes of the GST Bill getting passed in the Upper House of Parliament prevented the market from falling further.

Meanwhile, Asian markets closed mixed as investors digested data from China, which grew more than expected in the second quarter, easing fears about trouble in the world's second-largest economy even as US stocks finished at record high overnight.
European stocks were trading weak impacted by the attack in France.

The 50-share Nifty opened almost flat at 8,565.45 and fluctuated between 8,594 and 8,510.05 before concluding at 8,541.40, showing a loss of 23.60 points, or 0.28 per cent.
Among the sectoral indices, Nifty IT registered the biggest loss, falling over 440 points or nearly 4 per cent.
Shares of IT majors Infosys and TCS closed 8.82 per cent and 3.04 per cent down at Rs 1072.55 and Rs 2445.35, respectively with heavy volumes.

Realty (0.53 per cent) and Nifty PSU Bank (0.090) were the other losers alongwith smallcap (1.04 per cent) and midcap (0.39 per cent) indices.
However, auto rose 0.98 per cent, followed by metal (0.82 per cent), infra (0.66 per cent), Nifty Bank (0.48 per cent), Private Bank (0.28 per cent) and pharma (0.15 per cent).
The key laggards included ICICI Bank, Wipro, Tech Mahindra, Aurobindo Pharma, Kotak Mahindra, HCL Tech, NTPC, Coal India, Hero MotoCorp, Power Grid and SBI.
Notable gainers were HDFC Bank, HDFC, Tata Motors, L&T, Bosch, Bharti Airtel, Reliance, Idea, Tata Steel and M&M.
A total of 1,072 stocks declined, 532 advanced, while 67 were unchanged.

Turnover in cash segment shot-up to Rs 22,855.67 crore from Rs 18,181.17 crore yesterday.
A total of 11,607.67 lakh shares changed hands in 86,36,002 trades. The market capitalisation of NSE stood at Rs 104,08,430 crore.