Facebook to replace Infosys on Nasdaq 100 from Dec 12

Social networking giant Facebook Inc is all set to replace Indian software major Infosys to become a part of the Nasdaq 100 index from December 12.

The Facebook stock has lost a significant value since its much-hyped public listing in May.

The California-based company currently has a market capitalisation of around $29.7 billion (Rs 1,62,000 crore). However, when the company went public, its market value was about $104 billion.

According to Nasdaq: "Facebook Inc will become a component of the NASDAQ-100 Index, the NASDAQ-100 Equal Weighted Index, and the NASDAQ-100 Technology Sector Index prior to market open on Wednesday, December 12, 2012".

The social networking firm, which was founded eight years ago by Mark Zuckerberg with his college roommates and fellow Harvard University students, has at present around 1 billion users across the world .

Meanwhile, Bangalore-headquartered Infosys has a market capitalisation of Rs 1,37,327 crore. Reacting to the development, shares of Infosys lost 2.11 per cent and fell to an intra-day low of Rs 2,378 on the Bombay Stock Exchange.

With inputs from PTI