Indian shares were moving lower on Monday ahead of a week packed with major quarterly earnings announcements and the monthly derivatives expiry.
Global cues were mixed as investors weighed inflation risks driven by high crude oil prices.
The benchmark 30-share BSE Sensex fell 354 points, or 0.6 percent, to 60,468, while the broader NSE Nifty index was down 89 points, or half a percent, at 18,025.
ICICI Bank soared 8.4 percent after the private sector lender reported its highest ever quarterly net profit.
Mahindra & Mahindra, ONGC and Axis Bank rose 1-2 percent while Tata Motors, Bajaj Auto, Shree Cement, Asian Paints and Divis Laboratories all fell around 3 percent.
JSW Steel dropped 1.4 percent on news it plans to introduce a differential pricing mechanism.
Apollo Tyres fell 1.2 percent after launching a premium European brand in India.
Reliance Industries declined 0.8 percent despite the energy-to-telecom behemoth reporting better-than-expected financial results for the quarter ended September.
Tech Mahindra was down 0.7 percent ahead of its earnings release.
Tata Consumer Products lost almost 2 percent after its Q2 net profit came in below expectations.
Market Analysis
Sensex, Nifty Edge Lower On Mixed Global Cues
2021-10-25 04:35:54
