Sensex Tanks 293 Points On Weak Asian Cues; Infy Falls 4%

At 10am Sensex was down 0.12% at 34,151.86 points while the Nifty 50 edged down 0.14% to 10,466 points

According to government data, inflation based on wholesale prices eased marginally to 2.47 per cent in March on cheaper food articles, especially pulses and vegetables.

Wholesale inflation was 2.48% in February and 5.11% in March previous year.

Besides, reflecting further improvement in the economic situation, industrial production grew by a healthy 7.1 per cent in February while the key retail inflation slipped to a five-month low of 4.28 per cent in March, official data showed on Thursday.

The broader NSE Nifty too struggled before ending well above the 10,500-mark. The BSE Sensex rose 113 points, or 0.33 per cent, to close at 34,305 with 20 stocks advancing while 11 declining.

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. The broader Nifty too, opened below a milestone mark - that of 10,400 as it opened 80 points in the red, but had pared nearly the entire loss in morning trade. Intra-day, it hovered between 10,396.35 and 10,540.15.

As of 10:25 am, Infosys shares traded 3.07 per cent lower at Rs 1,135.50.

BSE sectoral indices, led by IT, Teck, oil and gas, PSU, power, infrastructure and banking stocks, declined up to 0.88%.

The major gainers on the BSE were Hero MotoCorp, Kotak Mahindra Bank, Adani Ports, Mahindra and Mahindra and Bajaj Auto, while Tata Motors, Tata Motors (DVR), Infosys, State Bank of India and ONGC were among the main losers. The stock was the biggest contributor to the losses on Sensex.

Among other Asian markets, Hong Kong's Hang Seng shed 1.44 per cent, while Shanghai Composite Index was down 1.05 per cent in early trade.

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