New Delhi, July 12 (IANS) A benchmark index of Indian equities markets was Wednesday trading 223 points lower in afternoon trade after IT bellwether Infosys issued weak revenue guidance for the financial year ending March 2013.
Infosys said revenue for financial year 2012-13 would grow 5 percent year on year to $7.34 billion as against $7.6 billion projected at the beginning of this fiscal, with 9 percent year on year growth as per the International Financial Reporting Standards.
There was selling pressure in IT, telecom, media and realty stocks.
The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 17,297.06 points and was trading at 17,265.55 points, down 1.28 percent or 223.59 points from its previous close at 17,489.14 points.
BSE mid-cap was down 44.75 points and small cap was down by 52.09 points.
The wider 50-scrip S&P CNX Nifty of the National Stock Exchange also was trading at 5,245.20 points, down 1.15 percent.
The BSE IT index was down 320.40 points, while the TECk index, which includes sectors such as media and telecom, was down 155.79 points and the realty index 24.10 points down respectively.
Infosys was the biggest Sensex loser, down 9.06 percent at Rs.2,242.90.
The other major Sensex losers were Wipro, down 4.22 percent at Rs.358.40; Bharti Airtel, down 2.04 percent at Rs.309.40; TCS, down 2.04 percent at Rs.1,233.15; and Mahindra and Mahindra, down 1.56 percent at Rs.721.55.
The major Sensex gainers were Hindustan Unilever, up 1.20 percent at Rs.446.60; ONGC, up 0.95 percent at Rs.280.85; Hero MotoCorp, up 0.51 percent at Rs.2,051; Cipla, up 0.42 percent at Rs.325.65; and Gail India, up 0.35 percent at Rs.359.15.
Among other Asian markets, Japan’s Nikkei was down 1.48 percent, Hong Kong’s Hang Seng was down by 1.62 percent while China’s Shanghai Composite index was up 0.54 percent.