Sensex, Nifty trade lower, Infosys shares fall 3%

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The 30-share index was trading lower by 77.41 points, or 0.23 per cent, at 34,115.24 at 1200 hrs, led by selling on IT, energy, consumer durables, telecom, auto, banking, oil & gas counters.

According to government data, inflation based on wholesale prices eased marginally to 2.47 per cent in March on cheaper food articles, especially pulses and vegetables. Nasdaq and S&P 500 was also down by 0.47 percent and 0.29 percent respectively.

The downtrend was led by index heavyweight Infosys, which slipped 3% after its FY19 growth outlook disappointed the street.

UCO Bank shares sank 14% to Rs21 after the Central Bureau of Investigation (CBI) on Saturday booked the bank's former chairman and managing director Arun Kaul and others for an alleged fraud to the tune of Rs621 crore.

Fortis Healthcare stock fell 1% after it confirmed getting interest from IHH Healthcare Bhd.

Wholesale inflation was 2.48 per cent in February and 5.11 per cent in March past year. Despite volatility, key indices pocketed modest gains throught-out the weeks trading days, only seen for second time since last one year as the investor sentiment remained buoyant on earning optimism, while remained resilience to incessant global uncertainties.

Other major laggards were Wipro, Tata Motors, ONGC, Axis Bank, NTPC, RIL, Dr. Reddy's, SBI, ICICI Bank, Bharti Airtel, Asian Paints, Maruti Suzuki and Tata Steel, falling by up to 1.54 percent.

In the broader market, the BSE Midcap was little changed, while the BSE Smallcap gained 0.4 per cent. Market breadth, indicating the overall health of the market, turned negative.

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