Sunday, 22 July, 2018

Nifty April futures trade at modest premium

Nifty April futures trade at modest premium Nifty April futures trade at modest premium
Theresa Hayes | 16 April, 2018, 21:27

The company lowered its profitability outlook to 22-24% for 2018-19, as against 24-26% two years back and suggested that India's second largest software services exporter continued to struggle to get more yield from its traditional outsourcing business, where profitability is dwindling.

Infosys, Dewan Housing Finance Corporation, Tata Motors, TCS and Escorts were the top traded individual stock futures contracts in F&O segment of NSE.

According to government data, inflation based on wholesale prices eased marginally to 2.47 per cent in March on cheaper food articles, especially pulses and vegetables.

India's exports dipped by 0.66 per cent to Dollars 29.11 billion in March, even as they increased by 9.78 per cent for the full 2017-18 fiscal.

As of 10:25 am, Infosys shares traded 3.07 per cent lower at Rs 1,135.50.

Reflecting further improvement in the economic situation, industrial production grew by a healthy 7.1 per cent in February while the key retail inflation slipped to a five-month low of 4.28 per cent in March, official data showed on Thursday. Its stock was one of the biggest contributors to the losses in the Sensex pack.

The index had risen 1,173.88 points in the past seven sessions.

The broader NSE index climbed 0.46 percent to 10,528.35, while the benchmark BSE index rose 0.33 percent to 34,305.43.

Market breadth was negative with 628 advances against 849 declines.

Last week, the Sensex ended with third consecutive weekly gain by a solid 565.68 points to conclude at 34,192.65, while the broader Nifty reclaimed to close above the key 10,400-level at 10,480.60.