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Tuesday, 13 October 2015

Sensex 175 points, rolled, IT stocks fall

Information technology company Infosys quarterly results on Monday amid volatile trading, the Bombay Stock Exchange benchmark Sensex firms sold shares in the Dabaw fell 175.40 points to close at 26904.11 points.

India's second largest IT software services exporter Infosys also closed in the red with similar volatility. In early trade, the Sensex had gained over 225 points, but in the current financial year the company's earnings per dollar than previously announced estimates of the market affected. Following the announcement, especially technology stocks saw heavy selling. Infosys said now that the whole year from 6.4 percent in dollar terms, the income may rise 8.4 percent, the previously announced estimate of 7.2 to 9.2 percent increase is slightly less because the broad weakness in IT spending dollar exchange rate due to the strengthening of the customer concerned.

Further macroeconomic Aankdon- ahead of IIP and inflation, investors adopted a cautious approach. 30-share Sensex resumed higher early trading 225 points, but the financial results with Infosys declined 175.40 points, or 0.65 per cent, and finally closed with 26904.11 points.

The National Stock Exchange index Nifty also declined 46.10 points, or 0.56 per cent, to close at 8143.60 points. 8128.20 points from 8244.50 during trading in the range of it. Infosys was down 3.88 per cent, whereas initially it was above 5 percent.

The company, however, the growth rate of 9.8 percent in the September quarter showed a profit of Rs 3398 crore, 17.2 per cent to Rs 15,635 crore while his income was Smemit, 13 342 crore in the same period last year. Major Sensex stocks declined, they Lupin, Cipla, Sun Pharma, Tisias, Dr. Reddy, Wipro, HDFC, Maruti Suzuki, Hero Moto Corp, ITC, Bajaj Auto, Axis Bank, HDFC Bank and CIL are.

Also, Bank of Baroda stock was down 3.02 per cent. CBI showing Baroda Rs 6,000 crore through bogus import payments to be sent to Hong Kong by the CBI in New Delhi were searched three places below the income shares of the bank.

On the other hand metal stocks gained for a second day. Glencore's zinc production cuts announced in the third after a strong rally. Vedanta 7.0 percent, while Hindalco gained 5.98 percent. In global markets, other markets in Asia, while European markets fell in early trading trend.

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