Indian shares largely ended with gains on Monday after a day of volatile trade, tracking tepid Asian sentiments. Benchmark indices of Sensex and Nifty closed 0.4 percent higher with the BSE index advancing 131.52 points to 34,865, and the NSE index by 40 points to 10,512.50. While ITC, Reliance and HDFC Bank batted for the bulls, FMCG major Hindustan Unilever turned out to be the biggest Index loser post its Q2 earnings. Gains remained capped due to underperformance by private banks like ICICI and Axis, which dragged Nifty Bank.
The banking index closed 8 points in the red at 25,388. Midcaps, however, outperformed benchmark indexes with Nifty Midcap index adding 156 points to rise to 16,902.
On the earnings front, IndusInd Bank reported a 9-quarter high loan growth, while profit growth came in at the lowest level in the past nine quarters. Net Interest Income came in 21 percent higher at Rs 2,203.3 crore and the gross non-performing assets at 1.05 percent against 1.15 percent in the last quarter.
From the media sector, TV18 broadcast reported an operating EBITDA growth of 42 percent at Rs 108 crore, and the revenue came in 11 percent higher against the corresponding quarter. For Network18, operating EBITDA was 59 percent higher and revenue saw a growth of 9 percent.
In the futures market, Nifty 10,400 Put option added 4 lakh shares in the open interest with premium moving 17 percent lower. Nifty 10,700 Call option added 6 lakh shares in the open interest with premium gaining 5 percent. Nifty October Futures closed with a premium of 7 points against a premium of 14 points on Friday.
Stocks in Asia slipped on Monday afternoon as investors remained cautious, with last week’s sell-off weighing in on sentiments. In the Greater China region, the Hang Seng index in Hong Kong fell by around 1.4 percent.
The Shanghai composite also dropped 1.5 percent to close at around 2,568.10 — its lowest since November 2014 — while the Shenzhen composite declined by 1.2 percent to end the trading day at about 1,281.08.
The moves in China came as new reserve requirements for lenders went into effect, in a move by the People's Bank of China which is expected to inject CNY 750 billion (around $108.4 billion) into the banking system.
In Japan, the Nikkei 225 fell by 1.9 percent to close at 22,271.30, while the Topix index slipped by 1.6 percent at 1,675.44, with most sectors ending lower.
South Korea's Kospi also ended with losses of 0.8 percent to settle at 2,145.12, with industry heavyweight Samsung Electronics slipping by 0.45 percent and chipmaker SK Hynix falling by 2.9 percent.
In Australia, the benchmark ASX 200 fell around 1 percent to end the trading day Down Under at 5,837.1 with most sectors lower. The heavily weighted financial subindex fell 1.62 percent as major banking shares saw losses — Commonwealth Bank was down 2.1 percent, ANZ fell 1.85 percent, Westpac was lower by 1.6 percent and the National Australia Bank declined by 1.6 percent.
Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.