Mumbai: The Sensex fell 310 points to 19,386.82 as inflation triggered fears of interest rate hikes and Infosys reported lower-than-expected fourth quarter results.

The Bombay Stock Exchange index, Sensex, which had gained 434 points in the previous session, was pulled down 310.04 points to 19,386.82 by the Infosys stock which has the second heaviest weight in the 30-share benchmark.

The broad-based National Stock Exchange index Nifty dropped by 86.95 points to 5,824.55, after touching the day's low 5,806.45.

Infosys plunged 9.59 per cent to Rs 2,988.80; the second major Tata Consultancy by 1.52 per cent to Rs 1,190.55 and third biggest Wipro fell the most in three months by dropping 5.04 per cent to Rs 449.60.

Meanwhile, March inflation rose to 8.98 per cent, from 8.31 per cent in the previous month, raising fears that RBI will raise policy rates to curb price rise.

There was some profit booking at front-runner stocks after the Sensex rallied 9.1 per cent in March, fanning the down-trend. A weak trend in the overseas markets was also a negative factor for the market.

The IT, teck, realty, banking, power, and metal and refinery sectors were the major losers and kept the market down, while a better trend in stocks of auto, capital goods and consumer durable sectors capped the losses to some extent.

(Agencies)