Infosys and TCS together leverage a 50 percent fall in Sensex

In a volatile session on Dalal street on Tuesday , when the Sensex crashed almost 500 points from its day's high ,it is two IT giants Infosys and TCS which have been drivers of a close to 50 percent  fall in the Sensex. Sensex touched a high at 25,705 on an intra day basis while the low it made on an intra day basis was at 25,204 points, thus correcting by 500 points on an intra day basis. 

Markets while trading in green were up by  almost 250 points from yesterday's close when broader markets started correcting and Sensex sharply corrected by 500 points within a matter of an hour. Infosys and TCS , IT bellwether stocks corrected heavily and influenced the rapid fall in the Sensex. Infosys has a weightage of 6.36 percent in Sensex and TCS has a weightage of about 11.50 percent in the Sensex. Put together both the IT giants have a weightage of 17.86 percent in Sensex. 

Infosys now trading  at 1178 levels is down by almost 1.81 percent on an intra day basis. Infosys has touched a high of 1212 on an intra day basis, when things started getting murkier for the stock. TCS showed similar trend like Infosys on an intra day basis and is almost down by 2 percent from its yesterday's close. TCS has touched an intra day high of 2530. 

While ITC and ICICI Bank are the other heavyweights dragging the SENSEX down , Infosys and TCS's performance reflects a poor show of IT sector on bourses today. Bharti Airtel, Adani Ports, Asian Paints,Tata Motors and Tata Steel are a few stocks bucking the trend by trading in green when the broader markets are trading in the negative.