Closing Bell: Sensex ends over 250 pts lower post Sikka’s resignation; Nifty below 9850

Closing Bell: Sensex ends over 250 pts lower post Sikka’s resignation; Nifty below 9850

15:30 Near Market: Mostly crossed by a weak trading day on Infosys, the benchmark indices finished the session and the week on a negative note, with Nifty’s 9900 mark.

The Sensex closed 270.78 points at 31524.68, while the Nifty finished 66.75 points lower at 9837.40. Market width was negative as 1,003 shares rose, compared with a decrease of 1,527 shares, while 124 shares were unchanged.

IT inventories decreased, followed by pharmaceuticals, which also witnessed weak movements. Midcaps, on the other hand, cut a good chunk of his losses, while the JI and FMCG won.

HUL, Bharti Airtel and BPCL earned the most on both indices, while Infosys and Sun Pharma lost the most.

15:10 Market Verification: The benchmark indices were observed by reducing a good chunk of its losses, with Nifty trading above 9800-mark.

The Sensex fell 288.14 points to 31507.32, while the Nifty fell 69.95 points to 9834.20. Market width was negative as 821 shares increased against a decrease of 1,597 shares, while 113 shares were unchanged.

14:50 The exit of Sikka weighs on the portfolio of Murthy: the surprise exit of Vishal Sikka of Infosys weighed heavily on D-Street which cost its shareholders a theoretical loss of market capitalization of about 27 000 crores whereas the investment Cumulative family of Narayana Murthy saw a Decline of about Rs 1,000 crores whereas stocks reached a multi-year level.

Infosys who started with a gap on the lower side slipped more than 13 percent to hit his multi-year low of Rs884.20 in exchange on Friday.

The promoter and the promoter group hold cumulatively nearly shares in Infosys and Narayana Murthy and his family hold 7 90.02, 104 shares according to the BSEIndia website.

N Narayana Murthy holds 87,18,688 shares while Akshata Murthy held 2,04,25,648 shares. Sudha Murthy holds 1,80.58,640 shares and Rohan Murthy has held 3.17.99,128 shares from the June quarterly data.

The cumulative notional loss that Narayana Murthy underwent today is a little over Rs 100 crore while other members of the family have seen a national loss of just over Rs 900 crores (see table) at From the closing price of Thursday of Rs 1,020.85 on the NSE.

14:30 European update: European stocks fell sharply on Friday morning as investors reacted to the worst terrorist attack in Spain for more than 13 years.

The pan-European Stoxx 600 decreased 0.77% shortly after the opening bell with almost all sectors and major stock markets on the negative territory.

The travel and leisure sector in Europe led the losses on Friday morning, in reaction to the attack in Spain. Airlines including Easyjet, Ryanair and Lufthansa were among the largest in the first deals, each down by more than 2 percent.

2:15 pm Market Verification: Fall in IT bellwether, Infosys, continued to weigh on the benchmark indices while they continued to trade low. That said, the indices were out of the weak points of the day.

The Sensex decreased by 354.42 points to 31441.04, and the Nifty decreased by 95.40 points to 9808.75. The width of the market was negative as 674 shares rose against a decline of 1,686 shares, while 102 shares were unchanged ….

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