INSUBCONTINENT EXCLUSIVE:
The Indian equity benchmarks snapped their four-day losing streak on Monday led by gains in banking heavyweights like ICICI Bank, Axis Bank
However, the upside was capped owing to selling pressure in HDFC Bank, Reliance Industries, Infosys, Bajaj Finserv and Asian Paints
For most part of the day, benchmarks traded in a volatile manner with Sensex moving in a band of over 900 points and Nifty touching an
intraday high of 18,241 and low of 17,968.50
The outperformance by the gauge of banking shares on the National Stock Exchange - Nifty Bank index helped markets end on a positive
note.The Sensex ended 145 points or 0.24 per cent higher at 60,967 and Nifty 50 index advanced 10 points or 0.06 per cent to settle at
18,125.Seven of 15 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Bank index' over 2 per cent gain
Nifty Financial Services, PSU Bank and Private Bank indices also rose between 1-2.3 per cent.On the other hand, Nifty Auto, FMCG, IT,
Consumer Durables and Realty indices fell between 1-3 per cent.Mid- and small-cap underperformed their larger peers as Nifty Midcap 100
index fell 1.75 per cent and Nifty Smallcap 100 index dropped 2.4 per cent.Among the individual Indian Railway Catering and Tourism
Corporation (IRCTC) came under intense selling pressure after the stock came out of the National Stock Exchange's futures and options ban
IRCTC shares fell as much as 14.32 per cent to hit an intraday low of Rs 3,960.05.ICICI Bank was the top Nifty gainer, the stock jumped
after the bank reported a 29.6 per cent rise in net profit to Rs 5,511 crore on a standalone basis for the July-September quarter in the
financial year 2021-22, compared to Rs 4,251.3 crore in the year-ago period
The bank's net non-performing assets (NPAs) were Rs 8,161 crore in the September quarter, compared to Rs 9,306 crore in the preceding
The net NPA ratio was 0.99 per cent by the end of September 2021, compared to 1.16 per cent by June 2021.Axis Bank advanced 3.5 per cent to
close at Rs 845 a day ahead of its September quarter earnings.ONGC, Tech Mahindra, JSW Steel, State Bank of India, Dr Reddy's Labs, Cipla,
Hindalco, Mahindra - Mahindra and Hindustan Unilever were also among the notable gainers.On the flipside, Asian Paints was among the top
Nifty losers after The Hindu BusinessLine reported that a whistleblower has alleged related party transactions by its promoters.Bharat
Petroleum, Bajaj Finserv, Bajaj Auto, Tata Motors, Wipro, Hero MotoCorp, Maruti Suzuki, Eicher Motors, Britannia Industries and Shree
Cements were also among the losers.The overall market breadth was extremely negative as 2,310 shares ended lower while 1,050 closed higher
