The market remained cautious and turned weak after a promising start today, with the benchmark Sensex falling by 83 points despite encouraging results announced by IT bellwether Infosys amid positive global cues.

The 30-share index was quoting at 16,760.78 points at 1015 hours, a net fall of 82.76 points or 0.49 per cent from its previous close. It touched a high of 16,963.08 in a volatile trade.

The broader 50-share Nifty of the National Stock Exchange also fell by 13.65 points or 0.27 per cent to 4,988.60 at 1015 hours from its last close.

Brokers said the market had already factored in the developments such as a liberal bonus by Reliance Industries and good second quarter results by Infosys.

Infosys, this morning announced a 7.54 per cent rise in consolidated net profit for the quarter ended September 30, 2009.

IT shares rallied smartly following Infosys announcement, and the BSE IT index jumped by 1.25 per cent in early trade.

It touched a high of 4,449.60 from its last close of 4,339.00.

Keywords: sensexniftyturns weakBSENSEIT shares

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