Bajaj Finance was the top laggard in the Sensex pack, plunging around 6 per cent, followed by IndusInd Bank, SBI, M&M, Axis Bank, Bajaj Auto and ICICI Bank. NSE Nifty sank 229.55 points to 14,637.80.
Analysts, however, said the timing of the infusion was good.
Wipro said recently it was expecting its revenue growth to drop 2.33 per cent or stay flat between $2,015 and $2065 million.
March was the first full quarter for Infosys under its new CEO Salil Parekh.
FPIs sold shares worth a net Rs 1236.95 crore on Friday.
The Sensex closed higher by 170 points at 26,128 and the Nifty rose 59 points to end at 7,943.