Infosys Loses 9 Percent, Stock Market Slides Down

stock market_dropIndia’s second largest IT company INFOSYS profit declined in the first quarter of the fiscal year 2017. Infosys put out a quarterly report that fell well below market expectations. Infosys fell more than 9 percent in the morning session itself and became the top looser. Profit of the company this year was Rs 3436 crore. According to the company’s CEO global economic problem has affected the performance of the company. Brexit has made a vast effect on the company. According to experts traders can invest for the long term in the company stocks. In the April-June quarter 10,262 people left the company. Attrition rate during this time increased from 17.3 percent to 21 percent.

Sensex Nifty fell down, trading in the negative group. BSE Sensex live on 27833 with 108 points down or 0.39 percent while NSE Nifty dropped 24 points at 8540 . BSE IT sector dropped 599 points to 10608 and BSE TECk dropped 255 points to 5829. MCX market is trading in the positive zone with minor hikes while NCDEX market is trading mixed.

BSE MidCap 12160 +45.83
Nifty MidCap 14341 +3.10

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