Confidence blues over Infosys result, Nifty down 1.90 pc

Written by: Pti
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Mumbai, Jan 13 (PTI) Tech major Infosys'' dismal earningnumbers spooked investors confidence, leading to a fresh boutof selling, pulling down the benchmark S&P CNX Nifty by 111.35points at the National Stock Exchange (NSE) here today.

The 50-share index shuttled between 5,857.75 and 5,736.70before closing at 5,751.90, down 111.35 points, or 1.90 percent, over its previous close.

Defying bullish global sentiment, trading began on a lownote over Infosys Technology''s disappointing Q3 performance.

The market momentum was highly demoralising with fresh boutsof profit-taking after overnight steep rally with most of theselling being in tech counters.

The gap widened as the session progressed and spread intofrontline and banking counters, taking the key-index into deepred.

"Investors'' confidence is shaky and cautious at thisjuncture. Hence, there is no buying. The coming days will behighly debated over Q3 performance of the Indian-Inc," traderssaid.

Infosys Tech, PNB, SBIN, IDFC, ICICI Bank, Axis Bank,Kotak Bank, BPCL, Wipro and HCL Tech were the top losers fromNifty.

Ambuja Cements, ONGC, Tata Motors and ACC registered goodgains in today''s falling market.

Total turnover in the cash segment declined to Rs 14,154crore from Rs 15,333.81 crore yesterday. A total of 6,414.27lakh shares changed hands in 59,99,082 trades and marketcapitalisation stood at Rs 67,43,694 crore at the end of day.

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