Loading...
By
Indian shares end lower on banks, auto stocks
Photo Credit: Reuters

Indian shares ended slightly lower on Monday, dragged down by weakness in banks and auto stocks ahead of earnings reports from a slew of market heavyweights including Tata Motors.

The blue-chip NSE Nifty 50 index ended 0.20% lower at 15,824.45 and the benchmark S&P BSE Sensex closed 0.23% lower at 52,852.27.

Tata Motors shares ended down 0.8% ahead of the company's first-quarter results. The Nifty auto index was down about 0.6%.

Shares of Kotak Mahindra Bank ended up 1.02% after it beat expectations for June-quarter net profit.

But the overall bank index ended down 0.24%, pulled lower by RBL Bank, Bandhan Bank and State Bank of India.

Axis Bank and Larsen and Toubro are due to report their quarterly results later in the day.

Zomato Ltd shares were up 13%, still in demand on their second day of trading after last week's listing. Shares of the food delivery firm had surged 65.8% in their debut.

Global markets fell on Monday on deepening concerns over tighter regulations in China, while investors also exercised caution at the start of a week packed with U.S. corporate earnings and a Federal Reserve meeting.

This week will see more than one-third of S&P 500 companies report quarterly results, including Facebook Inc, Tesla Inc, Apple Inc, Alphabet Inc, Microsoft Corp and Amazon.com.

Leave Your Comment(s)