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Infosys Stock Falls Over 6% After Vishal Sikka's Resignation

Following the announcement, the stock fell to Rs 958.00, registering a drop of 6.62 percent over its previous closing price on the BSE.

PTI

Updated:August 18, 2017, 4:28 PM IST
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Infosys Stock Falls Over 6% After Vishal Sikka's Resignation
File photo of Infosys CEO Vishal Sikka. (AFP)
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New Delhi: The BSE benchmark Sensex fell nearly 208 points and Infosys tanked over 7 percent in early trade after Vishal Sikka resigned as MD and CEO with immediate effect.

Besides, weak global cues on a deadly attack in Spain and rising concerns over the fate of US President Donald Trump's economic agenda also influenced investors sentiment.

The markets also witnessed intense selling pressure in recent gainers.

The Sensex plunged by 207.75 points or 0.65 per cent to 31,587.711 with the sectoral indices led by IT, teck, bank, healthcare, metal, auto and realty, tumbling up to 2.43 per cent. The gauge had gained 581.87 points in the previous three sessions.

On similar lines, the National Stock Exchange index Nifty dropped by 73.95 points or 0.74 percent to 9,830.20.

Brokers said sentiment on the domestic bourses suffered a jolt following a meltdown global equities on a deadly attack in Spain and renewed concerns over the fate of US President Donald Trump's economic agenda.

vishal sikka_Revised

Other laggards that dragged down the key indices were Sun Pharma, HDFC Ltd, Tata Motors, SBI, Kotak Bank, HDFC Bank, Lupin, Adani Ports, Axis Bank, Dr. Reddy's, Coal India and Tata Steel.

In Asia, Japan's Nikkei fell 1.02 per cent, while Shanghai Composite Index was quoting 0.33 per cent lower in early trade today. Hong Kong's Hang Seng index too shed 0.82 per cent.

The Dow Jones Industrial Average ended 1.24 percent lower in Thursday's trade.


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