Indian stock indices fell slightly lower on Monday, weighed down by financial and auto stocks, as government lenders soared 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 fell 0.35% to 58,441.57.
India’s bond and forex markets were closed on Monday due to a public holiday in the state of Maharashtra.
Among the stocks, non-bank lender Bajaj Finance fell 2% and was one of the biggest drags on the indexes, while the sub-index Nifty Auto fell 1%.
Meanwhile, the State Bank of India, India’s largest lender, rose 1.7% after a stronger-than-expected third-quarter profit, while the smaller bank of Baroda rose 4.9% after its quarterly profit more than doubled.
Steel Major Tata Steel climbed 2.4% after beating quarterly earnings estimates.
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