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Sensex corrects 1.31%, most in four months
Hindustan Times
|July 22, 2023
Equity benchmarks fell the most in four months on Friday, as investors booked profits in heavyweight Reliance Industries Ltd ahead of its earnings release, and sold off shares of Infosys Ltd and Hindustan Unilever Ltd (HUL) that posted weak earnings the previous day.
The Nifty 50 fell 1.17%, or 234.15 points, to 19745 points, while the Sensex corrected by 1.31% or 887.64 points to 66,684.26 points. The fall would have been steeper had it not been for banks, which bucked the trend with the 12-member Bank Nifty hitting a fresh 52-week high of 46,369.50.
Infosys, Tech Mahindra Ltd, HUL, HCL Technologies Ltd, Wipro Ltd and Reliance Industries (RIL) led Friday's losses, falling between 3% and 8% on both exchanges.
Infosys, which plunged 8.13% to ₹1331.60 after slashing its revenue guidance for FY24, eroded investor wealth by a whopping ₹48,931 crore, accounting for a fourth of Friday's overall wealth loss of ₹1.96 lakh crore.
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