Sensex falls more than 150 points; Infosys slumps
The BSE Sensex falls 0.69 percent, while the broader Nifty is lower 0.56 percent.
If sustained until the close, it would mark the Nifty’s third losing session over the previous four as shares have retreated from a record high hit on May 16.
Foreign investors sold Indian shares worth 2.87 billion rupees ($48.8 million) on Wednesday, as per provisional exchange data, extending their selling streak to a third consecutive day, marking a cumulative sales of $90.6 million in that period.
Infosys Ltd (INFY.NS) falls 7.4 percent after its president and board member B.G. Srinivas, seen by some investors as a candidate to take over as CEO, resigned, becoming the latest senior manager to leave the company.
A stronger rupee is hitting other software services exporters. Wipro Ltd (WIPR.NS) falls 1.9 percent.
Hero MotoCorp (HROM.NS) falls 2 percent after its January-March profit adjusted for other income lagged some analysts’ estimates.