The Indian markets climbed off the day’s high, dragged by heavyweights HDFC Bank and Bajaj Finance, and turned negative during the afternoon trade on Monday.
The S&P BSE Sensex was trading at around 36,650 levels, down 50 points, having reclaimed the 37,000 levels earlier in the session. The broader Nifty50 index, meanwhile, was testing 10,750-mark. Reliance Industries rose over 3 per cent and hit a lifetime high on the BSE after it announced the sale of 0.15 per cent stake in Jio Platforms to Qualcomm Ventures for Rs 730 crore. Besides, Tata Steel and Tech Mahindra also gained 3 per cent each. READ MORE
Meanwhile, Avenue Supermarts tumbled 6 per cent after the announcement of its June quarter results. READ MORE
Among key sectoral indices, Nifty PSU Bank index was down 1.7 per cent, followed by Nifty Bank index (down 1.5 per cent). On the upside, NIfty IT index was up 1.2 per cent.
A total of 18 companies including 5Paisa, India Home Loan, and MBL Infrastructures, are scheduled to announce their quarterly earnings today.