Sensex under pressure, Midcap falls 1%; Infosys in focus

Bearish sentiment continued on Dalal Street. The Nifty extended losses to slip below the 8,350 mark dragged lower by financials, real estate and capital goods stocks. The broader markets underperformed benchmarks, down more than 1 percent.

The Sensex dropped 108.13 points to 27626.89 and the Nifty declined 41.10 points to 8357.20. About 3 shares declined for every share advancing on the Bombay Stock Exchange.

In important earnings today, index heavyweight Infosys traded flat ahead of it’s fourth quarter results. According to a CNBC-TV18 poll, dollar revenue growth may rise 0.3 percent and in constant currency, growth is seen at 2-2.5 percent. FY16 revenue guidance is expected at 9-11 percent in constant currency.

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Posted in: Indian Market Tips