Mumbai: The Bombay Stock Exchange benchmark Sensex fell for the fourth straight session on 8 May, dropping 258 points on heavy selling in fundamentally strong shares led by Infosys and Larsen and Toubro.
The Sensex, which lost 519.81 points in last three days, fell further by 258.68 points at 17,080.65 after touching the day’s low of 17,038.03 and high of 17,212.61 points.
The wide-based National Stock Exchange index Nifty lost 53.80 points at 5,081.70. It touched the day’s low of 5,062.45 and high of 5,143.05 points.
The country’s second largest software exporter Infosys Technology dropped on concern that new disclosure rules in the US might uncover further credit losses and slow growth in the company’s largest market.
Fifty per cent of India’s software revenue comes from the US market.
Banking index fell the most by 261.43 points at 8,755.48, followed by capital goods index by 263.43 at 13,375.19. IT sector index lost 118.84 points at 4,294.46.