Nifty IT index falls 3.04%. Top losers: COMPANY LATEST PREV CLOSE LOSS() LOSS(%) NIIT TECH. 1056.20 1193.45 -137.25 -11.50 INFIBEAM AVENUES 52.35 58.50 -6.15 -10.51 HCL TECHNOLOGIES 1009.00 1051.80 -42.80 -4.07 TATA ELXSI 975.20 1016.55 -41.35 -4.07 INFOSYS 673.35 700.45 -27.10 -3.87 TCS 1979.95 2043.60 -63.65 -3.11
The S&P BSE Sensex ended at 34,001, down 760 points. The index had fallen 1,037 points to 33,723.53 in intra-day trade. The broader Nifty50 index settled at 10,235, down 225 points. It had hit an intra-day low of 10,138.60.
The rupee, which had slipped to a new record low of 74.48 against the US dollar earlier in the day, erased its losses to rise 19 paise to 74.02 in intra-day trade.
Investors will look forward to the September quarter (Q2FY19) financial results of the IT bellwether TCS, which is due later today. Majority of the analysts expect IT companies to report healthy numbers led by the ramp-up of recent large deal wins, improving the macro environment, and strong seasonality.
YES Bank rises ahead of its CEO search committee meeting
Shares of YES Bank have moved higher by 15 per cent to Rs 268 on the BSE in intra-day trade ahead of the first meeting of the search & selection committee today for finalization of the advisory firm. The stock bounced back 24 per cent from its intra-day low of Rs 217. The stock ended at Rs 241, up 3 per cent.
Share markets in Asia plunged to a 19-month low on Thursday after Wall Street's worst losses in eight months led to broader risk aversion, a rise in market volatility gauges and concerns over overvalued stock markets in an environment of rapidly rising dollar yields.
The sell-off, which came as the head of the International Monetary Fund, Christine Lagarde, said stock market valuations have been "extremely high", erased hundreds of billions of dollars of wealth around the region.