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Sensex, Nifty flat; Reliance Industries, ICICI Bank Outperform

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Indian equity benchmarks were trading flat in opening deals on Monday as both companies reported better-than-expected September quarter earnings over the weekend, after gains in ICICI Bank and Reliance Industries, losses in HDFC Bank, Kotak Mahindra Bank, Asian Paints. were offset with. , Infosys and ITC. BSE’s 30-share benchmark Sensex ended 69 points higher at 60,890 and Nifty 50 index fell 16 points at 18,098 till 9:23 am.

Nifty 50 stocks were leading 14 with 36 declines.

Asian stocks started steady on Monday ahead of a week packed with major quarterly earnings announcements, while the dollar hovered near October lows after hurting safe-haven currencies after three weeks of risk-favorable sentiment .

HSBC and Facebook will both publish quarterly results in Asian trading and late US hours on Monday.

Later in the week it will be the turn of other benchmark heavyweights including tech giants Microsoft, Apple and Alphabet, and European and Asian financial giants from Deutsche Bank and Lloyds to China Construction Bank and Nomura.

On Monday morning, the regional benchmark was flat with a 0.5 per cent gain in Australia followed by a 0.6 per cent fall in Korea.

Japan’s Nikkei lost 1 per cent and US S&P 500 futures fell 0.18 per cent.

Asian stocks have largely lagged behind their US and European counterparts in recent months, mainly due to regulatory sanctions and fears of slowing growth in China.

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