Indian shares end decrease on banks, automobile stocks

A man donning a protective mask walks earlier the Bombay Stock Exchange (BSE) creating in Mumbai, India, March 13, 2020. REUTERS/Francis Mascarenhas/File photo

BENGALURU, July 26 (Reuters) – Indian shares finished marginally reduce on Monday, dragged down by weak spot in banking institutions and automobile shares ahead of earnings stories from a slew of marketplace heavyweights such as Tata Motors.

The blue-chip NSE Nifty 50 index (.NSEI) ended .20% reduced at 15,824.45 and the benchmark S&P BSE Sensex (.BSESN) shut .23% reduce at 52,852.27.

Tata Motors (TAMO.NS) shares ended down .8% in advance of the firm’s first-quarter benefits. The Nifty automobile index (.NIFTYAUTO) was down about .6%.

Shares of Kotak Mahindra Financial institution (KTKM.NS) finished up 1.02% immediately after it defeat expectations for June-quarter internet financial gain.

But the over-all financial institution index (.NSEBANK) ended down .24%, pulled lower by RBL Lender (RATB.NS), Bandhan Bank (BANH.NS) and State Financial institution of India (SBI.NS).

Axis Financial institution (AXBK.NS) and Larsen and Toubro (LART.NS) are because of to report their quarterly results later on in the day.

Zomato Ltd (ZOMT.NS) shares were being up 13%, even now in desire on their 2nd day of buying and selling following previous week’s listing. Shares of the food items shipping and delivery agency experienced surged 65.8% in their debut.

Global marketplaces fell on Monday on deepening considerations more than tighter restrictions in China, even though buyers also exercised warning at the start out of a week packed with U.S. corporate earnings and a Federal Reserve conference.

This 7 days will see extra than one particular-third of S&P 500 firms report quarterly results, which include Fb Inc (FB.O), Tesla Inc (TSLA.O), Apple Inc (AAPL.O), Alphabet Inc (GOOGL.O), Microsoft Corp (MSFT.O) and (AMZN.O).

Reporting by Vishwadha Chander in Bengaluru Editing by Subhranshu Sahu and Aditya Soni

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