Sensex falls almost 300 points; Infosys tanks 4%

Sensex, Nifty at day's high; Cipla, TCS stocks gain

Sensex, Nifty at day's high; Cipla, TCS stocks gain

Hero MotoCorp (2.02%), Kotak Mahindra Bank (1.88%) and Adani Ports (1.85%) were the top gainers on Sensex.

According to official data released on Monday, India's WPI inflation softened to 2.47 per cent in March from a rise of 2.48 per cent reported for February and an acceleration of 5.11 per cent in the corresponding month of a year ago.

Wholesale inflation was 2.48 per cent in February and 5.11 per cent in March past year. The stock was the biggest contributor to the losses on Sensex. 30-share BSE Sensex lost nearly 150 points to open below 34,000-mark, but the index soon mad e a comeback and was at 34,119.45, still 73.20 points down, at 9.30 am.

Indian stock market continued its unabated rise for an eighth consecutive session today in the longest winning run since November, with the Sensex gaining another 113 points as a slew of positive macro-economic data brought cheers amid sustained geopolitical concerns.

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The wider Nifty50 closed higher by 41.50 points or 0.40 per cent to 10,458.65 points, while the Sensex closed at 34,192.65 points, up 91.52 points or 0.27 per cent.

Besides, reflecting further improvement in the economic situation, industrial production grew by a healthy 7.1% in February while the key retail inflation slipped to a five-month low of 4.28% in March, official data showed on Thursday. Intra-day, it hovered between 10,396.35 and 10,540.15.

Shares of Infosys, the country's second-largest IT services company, closed 3.3 percent lower after declining as much as 6 percent.

In the broader market, the BSE Midcap was little changed, while the BSE Smallcap gained 0.4 per cent. Market breadth, indicating the overall health of the market, turned negative.

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