Look who took the biggest hit in Infosys selloff! LIC, FPIs and top mutual funds

The country’s biggest institutional investors Life Insurance Corporation (LIC), foreign portfolio investors (FPI) and top mutual fund houses took a big knock as investors dumped shares of InfosysNSE 1.24 % following a whistleblower complaint that raised possibility of corporate governance lapses at the IT major.

The stock sank to an intraday low of Rs 638.30. BSE Sensex closed 334.54 points, or 0.85 per cent, down at 38,963.84. Infosys has a 7.42 per cent weightage in the index.

Amid the knee-jerk reaction, Infosys’ market-capitalisation declined by over Rs 40,000 crore in early trade.