Sensex tanks 293 points on weak Asian cues; Nifty below 10400-mark

Infosys stock falls most on BSE NSE post Q4 earnings

Sensex tanks 293 points on weak Asian cues; Nifty below 10400-mark

The broader NSE Nifty too struggled before ending well above the 10,500-mark.

According to official data released on Monday, India's WPI inflation softened to 2.47 per cent in March from a rise of 2.48 per cent reported for February and an acceleration of 5.11 per cent in the corresponding month of a year ago. Nasdaq and S&P 500 was also down by 0.47 percent and 0.29 percent respectively.

The downtrend was led by index heavyweight Infosys, which slipped 3% after its FY19 growth outlook disappointed the street.

Shares of UCO Bank plunged 8% on the BSE after the media report suggested that the Central Bureau of Investigation (CBI) has booked former chairman-cum-managing director of the bank's Arun Kaul and others in connection with an alleged Rs621cr loan fraud.

After Skymet, IMD also forecasts normal Monsoon 2018 at 97 percent
Normal rains in last two years helped a rebound in farm growth rate to 6.8% in 2016-17 and an estimated 3% in 2017-18. The country receives some 70 per cent of its annual rainfall during the four-month Monsoon season.

BSE sectoral indices, led by IT, Teck, oil and gas, PSU, power, infrastructure and banking stocks, declined up to 1.45 per cent.

Healthcare, FMCG and capital goods stocks saw buying interest.

Volatility index India VIX was up 4.45% at 14.7700.

The Sensex touched a high of 34,124.25 points and a low of 33,899.34 points during the intra-day trade so far.

Derek Jeter likes Marlins' grit, says attendance will improve with time
Quotable: "I mean, I don't think there's any insane bad blood beside what (the media) stirred up", Stanton said . Sometimes it takes a little bit of time , but I like how the guys are at least going about their business.

On the NSE, the top gainers were Cipla, Grasim Industries and Lupin, while the top losers were Tata Motors, Infosys and Vedanta.

Other major laggards were Wipro, Tata Motors, ONGC, Axis Bank, NTPC, RIL, Dr. Reddy's, SBI, ICICI Bank, Bharti Airtel, Asian Paints, Maruti Suzuki and Tata Steel, falling by up to 1.54 percent.

Tata Motors Ltd shares declined over 2% after a news report said that Jaguar Land Rover is planning to cut almost 1,000 jobs as it scales back production at some of its United Kingdom sites.

The rupee fell 20 paise to 65.40 against the United States dollar in early trade on global trade war concerns, dip in India's exports in March and a sharp drop in domestic equities. The historical evidence suggests geopolitical risk as an excellent opportunity "to buy the fear" as near term weakness see long term gains.

Famed 'Boys Don't Cry' lawyer immolates self in ecology protest
Mr Teena's story was the subject of the 1999 film Boys Don't Cry and Hilary Swank won an Oscar for her portrayal of him. He was an urban gardener at the Brooklyn Botanic Garden , running a large-scale composting operation.

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