Infosys has trimmed its revenue guidance for FY24 on weak global macro environment. The company now sees its revenue growing at just 1-3.5% in constant currency terms.
Global trends once again are likely to dictate market trend as a selloff in world equities continued amid concerns that the spread of the Delta variant could hamper economic recovery. SGX Nifty traded marginally lower by 31 points at 15,710 around 7.30 am, helped by strength in US futures. In overnight trade, Dow recorded its worst session since October as investors sheltered in the safety of government bonds and sold shares of companies directly affected by lockdowns. The index crashed 700 points or 2.09%. S&P and the Nasdaq suffered their largest one-day percentage drop since mid-May. They ended 1.59% and 1.06% lower, respectively. Crude prices plunged 7% in Monday s trade to below $69 a barrel. The prices stabilised earlier today, up 0.6%.