I don’t understand markets: Murthy

Following last Friday’s stock market crash after Infosys’ Guidance of a flat growth in the first quarter, the company’s chairman and chief mentor N.R. Narayana Murthy on Sunday said he did not understand market behaviour.

“I don’T understand stock markets. I do not invest in them,” Murthy said when asked whether Infosys’ guidance triggered the stock market crash on Friday.

There were market analysts tracking the stock movements and one should ask them about market behaviour, he said. The Sensex had plunged by 220 points to end at 11-week low of 6248.34 pulled down by across-the-board sell-off in an apparent reaction to infosys’ disappointing guidance for first quarter this fiscal and a meltdown in global indices.