Sensex slips 522 pts, Nifty down at 19,844; Infosys plunges 8%

Domestic equities slumped on Friday led by losses in IT stocks and Infosys, which plunged over 8 per cent at open. BSE benchmark Sensex tanked 618.69 points, or 0.92 per cent to 66,953.21 at the open, while broader NSE Nifty fell 164.35 points, or 0.82 per cent to 19,814.80.

By 9.33 am, Sensex was trading 522.64 points, or 0.77 per cent at 67,049.26, while Nifty50 slipped 135.45 points, or 0.68 per cent at 19,843.70.

Infosys plunged over 8 per cent in the opening session, after the IT major announced that its net profit jumped 11 per cent in the June quarter, and simultaneously, also lowered its FY24 growth outlook to 1 to 3.5 per cent in constant currency, down from 4 to 7 per cent it had projected earlier.

Reliance was also among the top drag in the Sensex pack, as the stock plunged nearly 1 per cent, a day after it traded ex-dividend for Jio Financial Services.

The IT index plunged as much as 3.32 per cent, as Infosys fell around 8 per cent, HCLTech plunged over 2 per cent, TCS nearly 1.74 per cent, and Wipro fell 1.63 per cent.

Hindustan Unilever also was among the top losers in the opening trade, down over 1 per cent, after the FMCG major’s net profit jumped 8 per cent to Rs 2,472 crore.