At 14.24 pm, the Sensex was trading down 312.88 points or 1.69% at 18,229.32 with 14 components falling. Meanwhile, the Nifty was trading lower by 67.05 points or 1.20% at 5,526.95 with 19 components falling.
Infosys expects 2013-14 revenue to grow 6-10%, lower than market expectations of 12%. It said the global economic uncertainties remain challenging for the industry.
Biggest gainers in the 30-share index were I T C (2.84%), Hindalco Industries (2.77%), State Bank Of India (1.37%), Hindustan Unilever (1.33%), Bajaj Auto (1.11%), and Tata Power Company (0.85%).
On the other hand, Infosys (21.01%), Wipro (5.49%), Mahindra & Mahindra (1.46%), Tata Consultancy Services (1.45%), and Tata Motors (1.13%) were the biggest losers in the Sensex.
Mid & Small-cap Space
The BSE Mid and small caps outperformed their larger counterparts declining-0.12% and -0.38% respectively.
The major losers in the BSE Midcap were CORE Education and Technologies (2.41%), Amara Raja Batteries (2.4%), Amtek Auto (0.31%), A B G Shipyard (0.22%) and Allcargo Logistics (0.04%).
The major losers in the BSE Smallcap were Aanjaneya Lifecare (4.97%), A2Z Maintenance & Engineering Services (3.76%), Styrolution ABS (India) (3.28%), Action Construction Equipment (2.65%) and Trident (0.11%).
Sectors in Limelight
The IT index was at 6,063.35, down by 730.85 points or by 10.76%. The major losers were Infosys (21.01%), Hexaware Technologies (2.21%), Mphasis (1.87%), H C L Technologies (1.73%) and Oracle Financial Services Software (1.45%).
The TECk index was at 3,516.18, down by 332.15 points or by 8.63%. The major losers were Dish TV India (3.57%), Mphasis (1.87%), Idea Cellular (1.21%), Bharti Airtel (0.6%) and Reliance MediaWorks (0.42%).
On the other hand, the FMCG index was at 5,799.01, up by 117.52 points or by 2.07%. The major gainers were ITC (2.84%), Colgate-Palmolive (India) (1.33%), Hindustan Unilever (1.33%), Jubilant FoodWorks (0.94%) and Dabur India (0.8%).
Market breadth was negative with 989 advances against 1,278 declines.