Indian shares were a tad lower on Monday as investors digested the latest batch of earnings results and awaited the Fed’s interest-rate decision due later in the week.
The benchmark S&P BSE Sensex was down 24 points at 66,660 in early trade, while the broader NSE Nifty index was down 11 points at 19,734.
Reliance Industries fell 2.4 percent. The diversified conglomerate on Friday reported a 11 percent drop in Q1 net profit, missing Street estimates.
Kotak Mahindra Bank lost 2.8 percent despite the bank reporting a 67 percent year-on-year jump in its June quarter standalone net profit.
Indraprastha Gas slumped 4 percent on reporting muted growth in quarterly net profit.
Aurobindo Pharma dropped 1 percent on news its Hyderabad facility has received three observations from the U.S. FDA.
On the positive side, Axis Bank, Larsen & Toubro and Mahindra & Mahindra all were up around 1 percent.
Private sector lender ICICI Bank edged up slightly after it reported a 44 percent jump in quarterly consolidated net profit, helped by healthy growth in core income.
Power Finance Corporation soared 4.1 percent after signing pacts with 20 companies in the clean energy category.
Adani Group companies were seeing modest gains after U.S.-based Bain agreed to acquire 90 percent stake in Adani Capital and Adani Housing.
Market Analysis
Sensex, Nifty Marginally Lower In Early Trade
2023-07-24 04:17:23
