LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » India News

Stock Market: Sensex, Nifty bleed on Infosys share price crash; IT, tech, telecom stocks bleed

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Stock Market: Sensex, Nifty bleed on Infosys share price crash; IT, tech, telecom stocks bleed
Written By: ZeeBiz WebTeam
Edited By: Harish Dugh
Updated: Tue, Oct 22, 2019
04:08 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Infosys Share price: Sharekhan retains Buy rating with a price target of Rs 1650 Infosys Share price: Sharekhan retains Buy rating with a price target of Rs 1650
TCS to Infosys, HCL Tech to Wipro II Strong order book and Digital transformation opportunity big boost for IT sector, says Kotak Institutional Equities TCS to Infosys, HCL Tech to Wipro II Strong order book and Digital transformation opportunity big boost for IT sector, says Kotak Institutional Equities
Bharti Airtel, HDFC Life in Focus: Kotak Securities and Nomura highlights expected MSCI Changes Bharti Airtel, HDFC Life in Focus: Kotak Securities and Nomura highlights expected MSCI Changes
Stock Market Today: Sensex, Nifty rise on strong global cues; BPCL, Infosys, Wirpo stocks gain Stock Market Today: Sensex, Nifty rise on strong global cues; BPCL, Infosys, Wirpo stocks gain
IntelliSmart inks pact with Infosys to develop digital platform for discoms IntelliSmart inks pact with Infosys to develop digital platform for discoms

Stock Market News: On account of heavy selloff in the Infosys shares in the intraday trade, the Indian indices went down after showcasing gains in the early morning trade session. The BSE Sensex went down 334 points to 38,963 levels while the 50-stock Nifty crashed 73 points after closing at 11,588 levels post-Closing Bell trade session. However, the Bank Nifty index scaled 290 points and closed at 29,411 levels.

Elaborating upon the Indian stock market Prakash Pandey, MD & CEO at Plutus  Advisors said, "The 50-stock Nifty has rallied 400 points in the last six trading sessions and the index has tested the upper resistance of its range. Nifty will face the hurdle/resistance in the zone of 11705 to 11810 and profit booking on Nifty is advisable in this zone." He said that the Nifty-50 index would trade in the range 11530-11810 throughout this week.

On why the Indian share market crashed in the intraday trade Prakash Paney of Plutus Advisors said that this crash was due to the Infosys share price nosedive. Pandey went on to add that had the Infosys shares had not gone down the 50-stock Nifty would have ended 30 points higher as other stocks at Nifty performed in such a way that Nifty could have gained 100 points from its previous close.

See Zee Business Live TV streaming below:

Infosys share price crashed around 16.73 per cent in the intraday trade. Apart from Infosys, shares of L&T Technology Services, Orient Cement, General Insurance Corporation, Zensar Technologies, Cyient and Dewan Housing Finance Corporation Limited or DHFL were among the major losers in the intraday trade while shares of Reliance Power, Reliance Infrastructure, Vakrangee, Piramal Enterprises, Nippon LifeAM and SBI Life Insurance were among the major gainers after the closing bell trade session.

IT and Tech stocks led the bloodbath at Dalal Street as the BSE IT and Tech index crashed near 7 per cent and 6.35 per cent respectively. IT major Cyient share price nosedived 5.53 per cent, shares of HCL Technologies went down 2.91 per cent, Hexaware Technologies stocks dipped 2.02 per cent, L&T Technology Services dipped towards south to the tune of 10.10 per cent.

Among major Asian markets; the Japanese Nikkei went up 0.25 per cent, South Korean Kospi soared 1.16 per cent, Hang Seng added 0.23 per cent while the Shanghai markets closed 0.48 per cent higher from its previous day's closing.

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
InfosysSensexNiftyBank NiftyDALAL STREETMarkets
RELATED NEWS
Infosys Share price: Sharekhan retains Buy rating with a price target of Rs 1650 Infosys Share price: Sharekhan retains Buy rating with a price target of Rs 1650
TCS to Infosys, HCL Tech to Wipro II Strong order book and Digital transformation opportunity big boost for IT sector, says Kotak Institutional Equities TCS to Infosys, HCL Tech to Wipro II Strong order book and Digital transformation opportunity big boost for IT sector, says Kotak Institutional Equities
Bharti Airtel, HDFC Life in Focus: Kotak Securities and Nomura highlights expected MSCI Changes Bharti Airtel, HDFC Life in Focus: Kotak Securities and Nomura highlights expected MSCI Changes
Stock Market Today: Sensex, Nifty rise on strong global cues; BPCL, Infosys, Wirpo stocks gain Stock Market Today: Sensex, Nifty rise on strong global cues; BPCL, Infosys, Wirpo stocks gain
IntelliSmart inks pact with Infosys to develop digital platform for discoms IntelliSmart inks pact with Infosys to develop digital platform for discoms

LATEST NEWS

US continues to see drop in new Covid cases

LIVE: IIT JEE Mains 2021 Result February - Date, time, declaration on NTA website direct link jeemain.nta.nic.in, download answer key, score checking and more

ITC Share Price: Experts give 'share to buy' tag; predicts up to 25% profit in three months

Mumbai-Ahmedabad Bullet Train: Tech bids open for bridge project - Check latest news development

Stock Market Outlook: Focus will be on these - Check what share bazaar experts, analysts opined

Super hi-tech driverless pod taxis for Noida Aiport! Check Yogi Adityanath government's big plans for Jewar

REVEALED! What gave a massive 400% jump to FDI in computer software, hardware during Apr-Dec 2020

Framework Agreement! India Grid Trust inks largest transmission deal with Sterlite Power

Stock Market Outlook: Anil Singhvi reveals Nifty, Bank Nifty support range, says investors should trade keeping volatility in mind

Gold Price Outlook: Yellow metal falls by over Rs 11,500 in last six months; may crash much more

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved