Sensex, Nifty Pare Some Weekly Gains As Infosys Slumps On CEO’s Exit
Indian equity benchmarks declined for the first time in four sessions, led by slump in shares of Infosys Ltd. after Vishal Sikka resigned as chief executive officer of the country’s second-largest software services exporter.
The S&P BSE Sensex dropped 0.85 percent to 31,524 while the NSE Nifty 50 Index lost 0.67 percent to 9,837. Both the indices posted weekly advance of over 1 percent after retreating over 3 percent in the previous week. Thirteen of the 19 sector gauges compiled by BSE Ltd. dropped, led by the technology group that fell to its lowest level in over a month.
InterGlobe Aviation Says Reports Of Flight Cancellations Misleading
Update: IndiGo has eight A320 Neo planes grounded and the carrier’s schedule was already planned in June to account for the non-availability of these aircraft for July, August and September, a spokesperson for the company told Bloomberg.
Shares of the budget carrier operator fell as much as 4.95 percent to Rs 1,247.50 after a PTI report said IndiGo cancelled 84 flights and grounded thirteen A320 Neo planes due to Pratt & Whitney engine issues.