Benchmark share indices ended lower on Thursday weighed down by selling pressure in Infosys after the software major slashed its dollar revenue guidance for FY13 to 5% against its earlier estimate of 8-10%.The 30-share Sensex provisionally ended down 256 points or 1.5% at 17,232 and the 50-share Nifty ended down 71 pointsto close at 5,235.
On the macro economic front, the country's industrial output picked up more than expected in May, bolstering the case for the Reserve Bank of India (RBI) to keep interest rates high at its next policy meeting as a slow start to the monsoon puts pressure on inflation, especially food prices. IIP rose 2.4 percent in May from a year earlier, driven by manufacturing growth, data released on Thursday showed.
In Asia, Japan's Nikkei share average posted its biggest fall in more than a month, dropping below major support at its 25-day moving average on Thursday after the Bank of Japan only offered minor tweaks to its easing strategy.
The Nikkei declined 1.5 per cent to 8,720.01, its biggest daily fall since June 8 and the sixth consecutive day of decline -- the longest such streak since early April.The Hang Seng was down over 2% while the Shanghai Composite was up 0.5%.
European shares were also trading marginally lower with the CAC, DAX and FTSE down between 0.2%-0.5% each.
Back home, BSE IT index has slumped 5 per cent to close at 5,384 following the Infosys guidance. Consumer durables, capital goods, auto, metal and bankex indices also shed 1-1.5% each.
Infosys ended lower by over 8% at Rs 2,265. The company cut its sales outlook for this fiscal year amid worries clients will reduce spending on outsourcing services due to global economic uncertainty, sending its shares down nearly 10%
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