MARKET LIVE: Sensex down 250 pts; Infy down 6% as Sikka resigns as MD & CEO | Indian Share Market

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MARKET LIVE: Sensex down 250 pts; Infy down 6% as Sikka resigns as MD & CEO

Benchmark indices opened lower with Nifty50 trading below the 9,850 mark as index heavyweight Infosys cracked after Vishal Sikka resigned as MD and CEO.   According to a BSE filing, Sikka will be Executive Vice-Chairman while UB Pravin Rao is the Interim-MD and CEO.

Asian stock investors were also trading lower as investors remained on edge amid growing doubts about US President Donald Trump’s ability to fulfill his economic agenda and Barcelona terror attack S&P 500 recording its biggest daily percentage drop in three months, closing at its lowest level since July 11 as investors appeared to be losing faith in the Trump administration’s ability to move forward with tax cuts and the rest of its domestic economic agenda.

9:45 am Currency update: The Indian rupee opened marginally lower at 64.18 per dollar on Friday versus 64.15 Wednesday.

source: business-standard.com

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