MUMBAI: BSE Sensex benchmark collapsed more than 244 points in early trade today on increased sales of funds and retail investors after Infosys failed to meet its dollar revenue guidance and cut its forecast for the dollar fiscal year 2013.
The barometer of 30 stocks, which had lost 129.21 points in trading yesterday, fell further by 244.96 points, or 1.40 percent, to 17,244.18 in early trade.
International investment position data and TCS June quarter results are expected later in the day.
All sectoral indices, led by IT and reality, were trading in negative zone with losses of up to 4.85 percent.
Similarly, the broad-based national stock exchange index Nifty fell 72.00 points, or 1.35 percent, to 5,234.30.
Agents market sentiment, said dampened after Infosys posted weak revenue guidance for fiscal year ending March 2013. The company Q1 FY 13 consolidated net profit by 32.92 per cent to Rs 2,289 million rupees, but weak earnings guidance for fiscal year ending March 2013.He said a deteriorating trend in Asian stocks after overnight losses in U.S. markets also had a negative impact.
Infosys fell 10.14 per cent to 2,216.05 rupees after revenue guidance much lower than expected for the fiscal year ending March 2013, dragging down the IT sector index, which were most affected by the loss of 4.85 percent, traders said.Infosys has 8.12 weight percent stake in the Sensex 30.
In the Asia, Hong Kong Hang Seng fell 1.75 percent, while Japan's Nikkei shed 0.67 percent in trading this morning. The U.S. Dow Jones Industrial Average ended 0.38 percent lower in trading yesterday.
The barometer of 30 stocks, which had lost 129.21 points in trading yesterday, fell further by 244.96 points, or 1.40 percent, to 17,244.18 in early trade.
International investment position data and TCS June quarter results are expected later in the day.
All sectoral indices, led by IT and reality, were trading in negative zone with losses of up to 4.85 percent.
Similarly, the broad-based national stock exchange index Nifty fell 72.00 points, or 1.35 percent, to 5,234.30.
Agents market sentiment, said dampened after Infosys posted weak revenue guidance for fiscal year ending March 2013. The company Q1 FY 13 consolidated net profit by 32.92 per cent to Rs 2,289 million rupees, but weak earnings guidance for fiscal year ending March 2013.He said a deteriorating trend in Asian stocks after overnight losses in U.S. markets also had a negative impact.
Infosys fell 10.14 per cent to 2,216.05 rupees after revenue guidance much lower than expected for the fiscal year ending March 2013, dragging down the IT sector index, which were most affected by the loss of 4.85 percent, traders said.Infosys has 8.12 weight percent stake in the Sensex 30.
In the Asia, Hong Kong Hang Seng fell 1.75 percent, while Japan's Nikkei shed 0.67 percent in trading this morning. The U.S. Dow Jones Industrial Average ended 0.38 percent lower in trading yesterday.
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