Sell on rise markets ?

The markets tried their best to edge higher in the early part of the trading week, but eventually fell apart following earnings disappointment from Infosys. The BSE benchmark index had managed to close at a fresh three-month high at 17,618 on Tuesday. However, thereafter the index tumbled to a low of 17,181, down 450 points from the week’s high of 17,631. The Sensex eventually ended with a loss of 307 points at 17,214. Among the Sensex stocks, Infosys and Wipro slumped over eight per cent each to Rs 2,228 and Rs 359, respectively. Jindal Steel and Power, Tata Steel, Tata Power Co, Bharti Airtel and Sterlite Industries were the other major losers. On the other hand, Oil and Natural Gas Corp gained two per cent at Rs 285. Gail (India) and Dr.Reddy’s were the other notable gainers. Read full analysis