The market is trending lower. The Sensex is down 122.70 points at 27612.32 and the Nifty is down 43.90 points at 8354.40. About 539 shares have advanced, 1113 shares declined, and 109 shares are unchanged.
ITC is up 1 percent while ONGC, BHEL, Tata Steel and Hindalco are top gainers in the Sensex. Among the losers are HDFC, Axis Bank, Cipla, M&M and L&T. Infosys' fourth quarter profit may fall 2.7 percent sequentially to Rs 3,161 crore on weak operational performance and slow growth in revenues.
Rupee revenue at Rs 13,818 crore during January-March quarter, up 0.15 percent over Rs 13,796 crore in December quarter and dollar revenues growth at USD 2,224 million, up 0.3 percent on sequential basis while constant currency growth is seen at around 2-2.5 percent (against its peers TCS (1.6 percent), HCL Tech (2.7 percent) and Wipro (1.2 percent). Infosys has the lowest exposure to currencies other than USD and generates more than two-third of its revenues in US dollar against 50-55 percent for peers.
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