BSE Sensex, Nifty Fall Amid Choppy Trade

The BSE Sensex and Nifty fell the second consecutive session on Thursday as IT stocks such as Infosys fell after global rival Cognizant Technology Solutions cut its annual revenue guidance.

Infosys fell 2.1 per cent, Tata Consultancy Services lost 1.5 percent, while HCL Technologies ended down 1.8 per cent.

Profit-taking was seen amidst weak global cues following signs of deepening Ukraine crisis. Most of the global markets were lower today as investors flocked to safe haven assets such as bonds and gold on Thursday, spooked by a Russian troop build-up on the border with Ukraine and tit-for-tat economic sanctions between the West and Moscow.

Analysts remain cautious on Indian markets in the short term. TS Harihar, chief executive and founder of HRBV Client Solutions Private, said weak global cues due to geopolitical reasons are likely to impact Indian markets in the short term. He expects Nifty to slide close to 7,450.

The Sensex ended 76.26 points lower at 7,649.25 while Nifty fell 22 points to 7,649.

(With Agency Inputs)