Infy outlook hits markets

Infy outlook hits markets

Domestic equity markets ended lower amid a volatile trading session on Friday weighed down by selling pressure in  the software major Infosys Technologies after its CEO S D Shibulal commented lowering revenue guidance for current fiscal -- due to appreciation of the rupee against the dollar -- which is considered a weak start to the earnings reporting season.

The market breadth turned negative from positive in late trade. Volatility ruled the roost as key benchmark indices once again slipped into the red after reversing losses to move into positive zone in morning trade.

Commenting on the market performance, India Infoline Research Head Amar Ambani said: "Indian stocks have been swinging back and forth lately after the NSE Nifty crossed 5700, which was driven by a slew of economic reforms and strong FII inflows..."

The popular Sensex at BSE lost 129.57 points or 0.69 percent to settle at 18,675.18, its lowest closing since October 10, 2012.

The 50-unit S&P CNX Nifty lost 32 points or 0.56 percent to settle at 5,676.05, its lowest closing since October 10, 2012.