Sensex, Nifty open in red; Infosys tumbles 6% as Sikka resigns

Indian markets open in red as global cues tumble led by attack in Barcelona, Spain and concerns over U.S. President Donald Trump`s ability to deliver his economic agenda. 

At 0921 hours, Sensex was trading at 31,564.52 down 230.94 points or 0.73%, while Nifty 50 was trading at 9,841.55 below 63 points or 0.63%. 

Infosys shares gave away all previous days gain and turned out to be the top loser after the company's  Dr. Vishal Sikka resigned from the post of Managing Director and Chief Executive Officer with immediate effect.

Share price of Infosys was trading at Rs 962.55 down Rs 59 or 5.74% on BSE. Sikka  will now serve as the Executive Vice-Chairman of the company. 

Other losers were State Bank of India at Rs 276.90 per piece (1.37%), Sun Pharma at Rs 484.20 per piece (0.90%), Kotak Mahindra Bank at Rs 981.30 per piece (0.86%), Tata Motors at Rs 382 per piece (0.79%) and Axis Bank at Rs 493.50 per piece (0.66%). 

Gainers on BSE involved ITC (Rs 282 per piece), Power Grid (Rs 220.95 per piece), Hindustan Unilever (Rs 1,182 per piece), Wipro (Rs 290.05 per piece) and Mahindra & Mahindra (Rs 1,369.75 per piece) trading positive in the range of 0.40% - 1%. 

Meantime, Indian Rupee is trading at Rs 64.121 per piece down 0.095 paisa or 0.15% against US dollar.