Sensex, nifty down 1%

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Mumbai: Benchmark share indices ended over 1% lower on Friday with Infosys leading the decline after disappointing March quarter earnings while the guidance for the current fiscal was also lower than Nasscom estimates.The 30-share Sensex ended down 297 points at 27,438 and the 50-share Nifty closed 93 points lower at 8,305.

According to one market analyst ,Technically the market is still looking weak and there are no positive triggers as of now. The Nifty can test the 200-DMA level of 8,250. Further, weak monsoon forecast is also a cause for concern. In the latter half of the session lower-than-expected fourth quarter earnings of Infosys dampened sentiment.Market breadth on the BSE ended negative with 2,072 losers against 671 advances.
In the broader market, the BSE Mid-cap slipped 1.6% and Small-cap indices ended down 2.7%.Meanwhile, according to reports the Central Board of Direct Taxes has instructed Foreign Portfolio Investors claiming treaty benefits be settled within a month.

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