Sensex, Nifty trade lower, Infosys shares fall 3%

Sensex, Nifty trade lower, Infosys shares fall 3%

The indexes entered positive territory almost 2.5 hours before the market closing after United States air strikes on Syria appeared to be having scant impact on trading, and oil prices fell back.

USA stocks fell last Friday as weakness in shares of banks and finance firms added to the political and trade tensions weighing on the market.

Meanwhile, Cipla was the top gainer in the Nifty, up 2.71 per cent followed by Grasim and Lupin, which rose 2.18 per cent and 1.88 per cent respectively.

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.

The US Dow Jones Industrial Average ended 0.50% lower in Friday's trade. Japan's Nikkei, however, was up 0.26%.

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The 30-share index fell by 293.31 points, or 0.85 per cent, to 33,899.34 in opening trade.

Key equity indices Nifty50 and Sensex extended their gains for the eighth consecutive session on Monday, the longest winning streak since November 2017, buoyed by gains in the select bank, financial, FMCG, IT and auto stocks.

At 10am, Sensex was down 0.12% at 34,151.86 points, while the Nifty 50 edged down 0.14% to 10,466 points. The stock was the biggest contributor to the losses on Sensex. Intra-day, it hovered between 10,396.35 and 10,540.15.

Shares of Infosys fell 3.10 per cent after company reported less-than-expected FY19 revenue guidance.

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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