Sensex sinks 1172 points; Infosys records worst slump in two years

The Indian Equities Markets key indices, Sensex and Nifty, slumped by around 2 per cent on April 18 making investors poorer by around Rs 4 lakh crore as IT and banking stocks crashed after the sectoral heavyweights, Infosys and HDFC Bank, announced disappointing financial results. The 30 stock S&P BSE Sensex tanked 1,172.19 points or 2.01 per cent to 57,166.74 points against its previous session's close at 58,338.93 points. This is the fourth consecutive day of the slump in the key indices. The broader Nifty 50 of the National Stock Exchange crashed 302 points or 1.73 per cent to 17,173.65 points against its previous session's close at 17,475.65 points. There was heavy selling pressure on IT stocks. Infosys crashed 7.27 per cent to Rs 1,621.45. This is the steepest single-day fall in Infosys share price in two years.