The BSE Sensex and the Nifty fell more than 1 per cent each. Infosys traded 7.9 per cent lower after its president and board member B.G. Srinivas, seen by some investors as a candidate to take over as CEO, resigned, becoming the latest senior manager to leave the company.
A stronger rupee hit other software services exporters. Wipro traded 2.8 per cent lower.
Hero MotoCorp slipped 0.1 per cent after its January-March profit adjusted for other income lagged some analysts’ estimates.
Foreign investors sold shares worth Rs. 287 crore on Wednesday, as per provisional exchange data, extending their selling streak to a third consecutive day, marking a cumulative sales of $90.6 million in that period.