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The benchmark indices turned range bound during afternoon trade. At 13:20 IST, the barometer index, the S&P BSE Sensex, gained 247.04 points or 0.41% at 61,068.66. The Nifty 50 index rose 36.70 points or 0.20% at 18,151.60. ICICI Bank (up 12.05%), Axis Bank (up 4.93%) and State Bank of India (SBI) (up 1.87%) boosted the indices. In the broader market, the S&P BSE Mid-Cap index lost 1.41%. The S&P BSE Small-Cap index shed 1.49%. Sellers outnumbered buyers. On the BSE, 978 shares rose and 2,278 shares fell. A total of 184 shares were unchanged. Gainers & Losers: Axis Bank (up 4.93%), Oil & Natural Gas Corporation (ONGC) (up 2.20%), State Bank of India (SBI) (up 1.87%) and Cipla (up 1.34%) were major gainers in Nifty 50 index. HCL Technologies (down 2.40%), Bajaj Auto (down 2.39%), Divi's Laboratories (down 2.35%), Wipro (down 2.33%) and Bajaj Finserv (down 2.32%) were major losers in Nifty 50 index. Nifty Results Today: Tech Mahindra (down 0.28%), HDFC Asset Management Company (AMC) (down 0.65%) will announce their quarterly results today. Earnings Impact: Reliance Industries (RIL) lost 0.75%. The conglomerate reported a 43% increase in net profit to Rs 13,680 crore on a 49.84% rise in net sales to Rs 1,74,104 crore in Q2 FY22 over Q2 FY21. Profit before tax (PBT) rose 18.64% to Rs 19,234 crore in Q2 FY22 over Q2 FY21. EBITDA rose 30% year-on-year to Rs 30,283 crore in Q2 FY22. With reopening and revival in economic activity, all businesses contributed positively to EBITDA growth, RIL said in a statement. ICICI Bank surged 12.05% after the private sector lender reported a nearly 30% rise in standalone net profit to Rs 5,510.95 crore on a 10% rise in total income to Rs 26,030 crore in Q2 FY22 over Q2 FY21. The bank's profit before tax grew by 37% year-on-year to Rs 7,201 crore in Q2 FY22 from Rs 5,266 crore posted in Q2 FY21. Global Markets: Shares in Europe and Asia were mixed on Monday, 25 October 2021, as investors continued to monitor corporate earnings, COVID-19 and the inflation picture. Meanwhile, the COVID-19 situation in China weighed on investors' sentiment after an official reportedly warned that the outbreak could spread further. In US, the Dow Jones Industrial Average closed at a record high Friday on optimism surrounding third-quarter earnings, even as shares of technology companies fell. Federal Reserve Chair Jerome Powell said the U.S. central bank was on track to begin reducing its purchases of assets. Meanwhile, IHS Markit's survey of senior business executives in service-oriented companies rebounded to a three-month high of 58.2 from 54.9 in September. A similar survey of manufacturers slipped to 59.2 from 60.7. Any reading over 50 signals improving conditions. Powered by Capital Market - Live News
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