TCS, Infosys lose the most in Mcap; RBI policy meet key next week
The market capitalisation (Mcap) of IT majors Tata Consultancy Services (TCS) and Infosys lost the most amid broad-based selloffs due to fear of recession in the global markets.
The market capitalisation (Mcap) of IT majors Tata Consultancy Services (TCS) and Infosys lost the most amid broad-based selloffs due to fear of recession in the global markets.
BSE Sensex ended witnessed a fall of 334.54 points or 0.85 percent at 38,963.84.
The financial markets will resume on Tuesday.
At 11.23 a.m., the Sensex was trading 153 points lower at 36,915.28 while the Nifty was down 47.80 points at 10,900.50.
The domestic indices traded in line with global indices, as Asian markets also were largely trading in the red.
On the National Stock Exchange, shares zoomed 19 per cent to Rs 39.40 after dropping to an all-time low of Rs 26.55 during the morning trade.
At NSE, shares plummeted 14.98 per cent to a multi-year low of Rs 58.15. In 12 trading days, the scrip has plunged over 61 per cent.
The US-China trade tension also weighed on the investor sentiments. Caution was also seen ahead of the Federal Reserve meeting which will start on June 18-19.
"Another point of concern for the markets was the slowing of Chinese economy."
"Consolidated net profit for fiscal 2018-19 grew 29 per cent annually to Rs 249 crore from Rs 193 crore in fiscal 2017-18."
