Sensex falls as Infosys slumps on weak guidance

Reuters Market Eye - The Sensex and the Nifty resume their losing streak. The Sensex is down 1.5 percent after tech bellwether Infosys Ltd provides a much weaker revenue guidance for the fiscal year to March 2014. The Nifty trades down 1 percent.

Infosys down 20 percent after saying it expects 2013/14 revenue to grow 6-10 percent, lower than market expectations of as much as 12 percent. (Read full story http://in.reuters.com/article/2013/04/12/india-infosys-march-quarter-earnings-idINDEE93A0HD20130412)

Other technology shares also fall: Tata Consultancy Services Ltd down 1.5 percent, Wipro Ltd falls 5.6 percent, HCL Technologies Ltd down 1.7 percent.

The fast moving consumer goods index, however, bucks the trend, gaining 2 percent with shares such as ITC Ltd up 2.8 percent on cheap valuations.

 

(Reporting by Swati Bhat)