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Markets Extend Losses, Infosys Pulls Down Sensex

The IT sector faced the backlash following Vishal Sikka's surprise resignation as Infosys CEO. The software giant extended losses by falling 5.37 per cent despite Rs 13,000 crore share buyback announcement.

Photo Credit : Reuters

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The benchmark Sensex gave up early gains to end 266 points lower on Monday while the Nifty cracked below the 9,800 mark, pulled down by heavyweight Infosys and other blue-chips amid a lower opening in Europe.

The IT sector faced the backlash following Vishal Sikka's surprise resignation as Infosys CEO. The software giant extended losses by falling 5.37 per cent despite Rs 13,000 crore share buyback announcement.

The stock remained the biggest loser among blue-chips on both the key indices for yet another session.

The 30-share Sensex ended 265.83 points lower, or 0.84 per cent, at 31,258.85. The gauge had lost 270.78 points in the previous session on Friday.

The broader NSE Nifty moved between 9,884.35 and 9,740.10, before ending down 83.05 points, or 0.84 per cent, at 9,754.35.

(PTI)


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infosys vishal sikka sensex nifty