Sensex drops by 276 points

MUMBAI: The BSE benchmark Sensex snapped its two-day winning spree by tumbling 276 points in the late morning trade due to fresh selling mainly in IT, Teck, Consumer Durable and Realty counters after Infosys forecast lower-than-expected sales for fiscal 2013-14.

Key benchmark indices tumbled in early trade as IT major Infosys slumped over 17 pct after the company discontinued issuing full year earnings guidance after reporting fourth quarter and year ended March 31, 2013, results before trading hours.

The company has forecast 6-10 per cent growth in revenue in both rupee terms and dollar terms for the year ending March 31, 2014. 

 LALIT SHARMA  

PGDM 2ND SEM