Sensex closes 556 pts down on foreign outflows Photogallery

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Sensex closes 556 pts down on foreign outflows

The BSE Sensex slid over 550 points in late trades on Monday as investors are cautious on quarterly earnings with most of the analysts estimating a slid in the earnings of Sensex stocks for the second consecutive quarter. (BCCL)

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After dipping to near the 27,800 level at 3pm, Sensex finally plunged 556 points to end at 27,886. (BCCL)

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Nifty tanked 157.90 points to close at 8,448.10. (BCCL)

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There was across-the-board selling in late trades with software stocks leading the fall. Sector leaders TCS and Infosys were down for the fourth consecutive session after TCS last week reported a marginal drop in earnings over the previous quarter. Both companies stocks were down about 2% each. (BCCL)

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Among the other stocks, Reliance was down 5% at Rs 881 and Hero MotoCorp was down 4.3% at Rs 2,305. (BCCL)

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With corporate earnings slotted for a drop for the January-March quarter, brokers expect foreign fund managers to take some money off the $6.4 billion they have net pumped in into India so far this year. (BCCL)

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