India’s benchmark Sensex fell 1.17% to 73,852.90 on Monday.
The Nifty 50 lost 1.11% to 22,888.95.
A top private bank missed profit expectations and its shares fell.
Brent crude stayed near 108 dollars a barrel.
Markets are closed on Tuesday for a holiday.
The Nifty PSU Bank index rose 2.5% and was the only major sectoral index to finish higher, according to HDFC Sky.
Axis Bank fell 4.2% after its September-quarter profit narrowly missed analyst expectations, with higher operating expenses and weaker other income offsetting strong credit growth and lower provisions, according to HDFC Sky.
Among other large stocks, LTIMindtree fell 2.8%, Infosys fell 2.63%, Bajaj Finance fell 2.52%, Yes Bank fell 3.5% and Tata Motors Passenger Vehicles fell 3.09%, according to the article text.
Union Bank of India rose about 5.3% and Punjab National Bank rose about 4.8%, according to HDFC Sky.
Punjab National Bank reported net profit up 13% year on year to Rs 5,532 crore, with net interest income up 11% to Rs 11,601 crore and the gross NPA ratio improved by 90 basis points to 2.55%.
ICICI Bank reported a better-than-expected quarterly profit, but its shares fell 1.15%, according to the same report.
LTIMindtree’s profit missed forecasts despite revenue growth, and UltraTech Cement’s quarterly profit missed estimates, according to HDFC Sky.
Brent crude traded around 108 dollars a barrel, according to HDFC Sky and BBN Times.
Prices eased after the United States waived some sanctions on Russia, which could allow more fuel supply, but tensions in the Middle East persist, according to HDFC Sky.
Higher oil prices raise concerns about India’s import bill, inflation and the rupee, according to the same report.
Analysts cited profit-booking after the previous week’s rally, weak quarterly results from some private lenders, elevated crude oil and global uncertainty, and volatility around the weekly derivatives expiry.
Dalal Street sign board, Mumbai (file image), Wikimedia Commons, CC BY-SA 4.0
