After Vishal Sikka resigned as the chief executive officer and managing director of Infosys on Friday, the Bombay Stock Exchange Sensex plunged over 270 points to close at 31,524.68, while the National Stock Exchange was down 66.75 points and ended at 9,837.40 points.
Apart from Sikka’s resignation, the attack in Spain’s Barcelona and concerns over United States President Donald Trump’s economic agenda also caused the Indian markets to fall. Cues from global market cues also contributed to the losses, reported Mint.
Infosys was the biggest loser on the Sensex as well as the Nifty, with its stocks going down more than 9% on both the bourses. The shares opened at Rs 1,021.50 and touched a high of Rs 1,021.50 and a low of Rs 953.50.
Stocks of IT companies fell the most, followed by pharmaceuticals, banks, realty firms, on the Sensex.
Bharti Infratel was the star performer on the NSE gaining over 4%, followed by BPCL (+2.21%), Eicher Motors (+2.14%) and Hindustan Unilever (+2.09%). On the 30-share index, Hindustan Unilever gained the most by going up 2.23%, followed by Tata Consultancy Services (+1.32%) and Bharti Airtel (+1.21%).
Besides Infosys, Sun Pharma (-3.65%), Zee Entertainment Enterprises Limited (-2.99%) and Vedanta Limited (-2.10%) traded in red. Meanwhile, on the Sensex too, Sun Pharma slid over 3.81%, followed by NTPC (-2.01%) and Dr Reddy :abs (-1.69%).
Other Asian markets, too, plunged. The Hong Kong Hang Seng was down over 197 points at 12.37 pm. Japan’s Nikkei 225 closed over 225 points lower, and the Taiwan TSEC 50 Index lost 48 points. The Shanghai SE Composite Index traded flat, closing just 0.59 points down.