Sensex falls 66 pts, Infosys Q2 hits mood
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The BSE benchmark Sensex today fell by nearly 66 points in early trade as Infosys' second quarter results failed to cheer the market.
The 30-share index, which had gained 173.65 points yesterday, fell by 65.90 points, or 0.35 per cent, to 18,738.85 with stocks of IT, capital goods and power sectors leading the fall in first five minutes of trade.
Similarly, the wide-based National Stock Exchange index Nifty declined by 13.20 points, or 0.23 per cent, to 5,694.85.
Selling pressure sparked after below-market-expectations September quarter earnings by IT major Infosys, mainly influenced the trading sentiment, brokers said.
Funds and retail investors booking profits at prevailing higher levels also aided the fall in Sensex.
However, better trend in the Asian region restricted the loss, they added.
Shares of Infosys fell by 7.10 per cent to Rs 2,351.60 in early trade, after the company reported consolidated profit for July-September period at Rs 2,369 crore, a growth of 24.29 per cent.
In the Asian region, Hong Kong's Hang Seng index was up by 1.07 per cent, while Japan's Nikkei Index gained 0.71 per cent in the morning trade today.
GLOBAL MARKETS ROUNDUP
* Nifty futures on the Singapore Exchange down 0.04percent. The MSCI-Asia Pacific index excluding Japan was up 0.16 percent.
*U.S. stocks ended flat on Thursday after gains brought by a sign of improvement in the labor market were erased in part by a drop in Apple shares after a legal setback in a court ruling.
* Asian stocks and the euro steadied on Friday, but were on course for a losing week as worries about weak corporate earnings and slowing global economic growth limit the appeal of riskier assets.
FACTORS TO WATCH
* Infosys, India's no. 2 software services provider, will report September quarter earnings. (0245 GMT)
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