The IIP data and Infosys’ third quarter results failed to cheer the stock markets today. Both the benchmark indices, Sensex and Nifty, fell under one per cent.
Infosys closed at Rs 2,590.25, down 8.36 per cent from the previous close.
The Nifty ended down 0.61 per cent or 29.70 points at 4,831.25. The Sensex closed down 0.86 per cent or 138.35 points at 16,037.51.
“The first session of market operations was marked by markets reacting negatively to the muted guidance provided by Infosys results. However, it was remarkable that despite this, banking stocks were able to maintain stability in the markets,” said Ms Shanu Goel, Senior Research analyst, Bonanza Portfolio.
Though the IIP numbers were better than expected, the overall market sentiment is not one of enthusiasm. “We are going to see a muted market in the coming days,” said Ms Goel.
Volatility was down, with the India Vix closing down 2.07 per cent, at 24.03.
Sesa Goa, IDFC, JP Associates, Grasim and Reliance Power were the top five Nifty gainers while Infosys, TCS, HCL, Wipro and L&T were the losers on the Nifty.