Sensex falls over 300 points; Infosys slumps around 7 percent

Reuters Market Eye - The BSE Sensex and the Nifty fall more than 1 percent each. Infosys Ltd falls 7.9 percent after its president and board member B.G. Srinivas, seen by some investors as a candidate to take over as CEO, resigned, becoming the latest senior manager to leave the company.

A stronger rupee is hitting other software services exporters. Wipro Ltd falls 2.8 percent.

Hero MotoCorp falls 0.1 percent after its January-March profit adjusted for other income lagged some analysts' estimates.

Foreign investors sold shares worth 2.87 billion rupees ($48.8 million) on Wednesday, as per provisional exchange data, extending their selling streak to a third consecutive day, marking a cumulative sales of $90.6 million in that period.