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Infosys drags Sensex down 335 points

October 22, 2019 16:24 IST

Other losers were Tata Motors, Bharti Airtel, HCL Tech and Bajaj Finance, shedding up to 3.51 per cent.

The broader NSE Nifty too tumbled 73.50 points, or 0.63 per cent, to settle at 11,588.35.

Snapping its six-session rising streak, equity benchmark BSE Sensex plunged 335 points on Tuesday, dragged by a massive plunge in Infosys' shares following a complaint against the company's chief executive.

The 30-share BSE Sensex ended 334.54 points, or 0.85 per cent, lower at 38,963.84. It hit an intra-day low of 38,924.85 and a high of 39,426.47.

 

The broader NSE Nifty too tumbled 73.50 points, or 0.63 per cent, to settle at 11,588.35.

IT major Infosys was the biggest loser in the Sensex pack, plummeting 16.21 per cent after an anonymous group claiming to be employees of the firm placed a whistleblower complaint to the company's board, accusing CEO Salil Parekh and CFO Nilanjan Roy of indulging in unethical practices to boost short-term revenue and profits.

Other losers were Tata Motors, Bharti Airtel, HCL Tech and Bajaj Finance, shedding up to 3.51 per cent.

Among the gainers were ICICI Bank, Sun Pharma, Bajaj Auto, HUL and HDFC, rising up to 3.06 per cent.

Elsewhere in Asia, bourses in Shanghai, Hong Kong Tokyo and Seoul ended on a positive note after US President Donald Trump on Monday said progress in developing the text of a partial trade pact with China means he will likely be able to sign it next month.

Photograph: Shailesh Andrade/Reuters

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