Sensex, Nifty Slip As Bajaj Finance Weighs; State-Run Banks Climb

Sensex, Nifty Slip As Bajaj Finance weighs in;  Rise of state-run banks

Steel major Tata Steel climbed 2.4% after beating quarterly profit estimates.

Bengaluru:

Indian stock indexes fell slightly on Monday, weighed down by financials and auto stocks, as state lenders pushed higher after a string of strong quarterly results.

The blue-chip NSE Nifty 50 index fell 0.35% to 17,455.65, as of 0359 GMT, while the S&P BSE Sensex slipped 0.35% to 58,441.57.

Indian bond and foreign exchange markets were closed Monday for a public holiday in the state of Maharashtra.

Among stocks, non-bank lender Bajaj Finance slipped 2% and was among the biggest drags on indices, while the Nifty Auto sub-index fell 1%.

Meanwhile, State Bank of India, India’s biggest lender, rose 1.7% after reporting higher-than-expected third-quarter profit, while its smaller counterpart Bank of Baroda jumped. 4.9% after quarterly profit more than doubled.

Steel major Tata Steel climbed 2.4% after beating quarterly profit estimates.

(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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