Mumbai, August 23: Shares of India’s second-largest IT exporter, Infosys on Wednesday zoomed on BSE Sensex after plunging due to Vishal Sikka’s surprise resignation as CEO last Friday.  Shares of the IT firm were up  2.88 per cent to end at Rs 902.45 on Sensex.  On the wider NSE Nifty, Infosys stocks traded in green at 2.61% at Rs 898.25 on NSE Nifty. As per reports, the sharp decline in Infosys share prices wiped out Rs 34,000 crore of investors’ wealth in last two days. Snapping the continues two-day fall,  Infosys shares closed 0.42 per cent up at Rs 877.15 per unit on the BSE on Tuesday. Also Read - Sensex Tumbles 746 Points To End At 48,878; Nifty Tanks 218.45 Points, Ends Below 14,375

On Tuesday, the 30-share gauge had lost 536.61 points in the past two sessions, mostly dragged down by over 15 per cent plunge in the Infosys stock after Vishal Sikka’s surprise resignation as CEO last Friday amid foreign fund outflows. Similarly, on Monday, the fresh week of trading after Sikka resigned, Infosys stock continued to reel under selling pressure for the second consecutive session today, closing over 5 per cent lower, as the company’s share buyback announcement failed to cheer investors. Also Read - Infosys Records 16.6% Growth in Q3 Net Profit at Rs 5197 Crore, CEO Calls It ‘Excellent Result’

 Markets regulator Sebi on Tuesday said it is keeping a close tab on the share price movement of Infosys, which saw its first non-promoter CEO Vishal Sikka quitting last week amid differences with its founders.  Infosys on Saturday announced that its board approved a share buyback offer of up to Rs 13,000 crore. The buyback decision came a day after the company’s Chief Executive Officer (CEO) Vishal Sikka resigned and was appointed Executive Vice-Chairman till a new CEO takes charge by March 31, 2018. Reports by PTI stated that the offer price at Rs 1,150 per share is Rs 226.90 more than Rs 923.10 per share closing price on Friday when it plunged 9.6 per cent after Sikka’s resignation spooked investors and is at around 18 per cent premium of the August 16 closing price. On Tuesday, Infosys co-chairman Ravi Venkatesan met Finance Minister Arun Jaitley to have apprised him of the developments at Infosys as also the steps being taken to keep the shareholders informed, sources said. Also Read - Stock Markets Open New Year on High Note, Sensex Up By 119 Points in Early Trade