Indian shares are down in negative territory Monday morning, extending recent losses, weighed down by weak global cues amid rising bond yields, and geopolitical tensions.
Quarterly earnings updates are providing some direction to stocks.
The BSE benchmark Sensex, which opened marginally up, dropped to a low of 65,169.09, and was down 213.80 points or 0.33% at 65,183.82 a little while ago.
The broader Nifty50 index of the National Stock Exchange was down 75.05 points or 0.37% at 19,467.60.
Kotak Bank is down 1.4% despite reporting 24% year-on-year increase in the net profit in the second quarter ended September 2023.
Tata Steel is down by about 1.3% and Tata Consultancy Services is lower by 1.1%. ITC, NTPC, Tata Motors, Maruti Suzuki, IndusInd Bank, HCL Technologies, Sun Pharmaceutcials and Larsen & Toubro are down 0.5 to 1%.
Grasim Industries, Adani Ports, Bajaj Auto, Hero Motocorp, MindTree, NTPC and Tata Motors are down 1 to 1.6%.
ICICI Bank is up nearly 1%. The bank reported standalone profit of Rs 10,261 crore for the quarter ended September 30, 2023, a 35.7% jump compared to the profit in the year-ago quarter. The bank’s gross non-performing assets declined to 2.48% of gross advances at the end of the September quarter from 2.76% a year ago. Its net NPAs or bad loans declined to 0.43% against 0.61% in the year-ago period.
Bajaj Finance and Mahindra & Mahindra are up 0.8% and 0.6%, respectively.
Yes Bank shares are down more than 2.5%. The bank reported a 47% year-on-year increase in profit before tax at Rs 225 crore for the quarter ended September 2023.
Central Bank of India shares are down nearly 4% despite the bank reporting a 96% surge in second quarter net profit. RBL Bank is down 2% despite reporting a 46% increase in net profit in the second quarter.
JSW Energy reported an 83% jump in net profit at Rs 850 crore for the quarter ended September 20, 2023, compared to a year ago. The stock is gaining nearly 1%.
Sensex, Nifty Extending Losses To 4th Straight Day
2023-10-23 05:26:22
