Source: Agencies27 Apr 2016 11:05:45
Mumbai, April 27: Indian equity-index futures fall, signalling a retreat for stocks, after the benchmark gauge surged to a four-month high before the expiry of the monthly derivatives contracts this week.
The 30-share S&P BSE Sensex is currently trading lower by 24.11 points, or 0.09%, to 25,983.19, while the Nifty 50 of the National Stock Exchange (NSE) falls 1 point, or 0.01%, to 7,961.65.
Biocon Ltd rises 3% to Rs.577. Biocon Ltd’s net profit rose 79% in the March quarter led by an exceptional item, improved sales at contract research arm Syngene International Ltd and moderate growth at its bio-pharmaceutical division.
The Bengaluru-based company posted a net profit of Rs.361 crore in the fiscal fourth quarter, compared with Rs.201.5 crore a year earlier. Revenue in the quarter rose 17% to Rs.979 crore from Rs.838 crore in the year-ago period.
The Indian rupee on Wednesday is trading marginally lower against the US dollar at 66.58, down 0.08% from its previous close of 66.52, as the traders are cautious ahead of the US Federal Reserve’s policy outcome.
US crude trades at $44.50 a barrel, not far from $44.83, the highest since early November scaled on Tuesday. Brent crude is at $46.28 at barrel after rising to a five-month peak of $46.49 overnight.