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Among the key shares, ICICI Bank grew by more than 9% in intra-day trading after the private sector bank posted a profit in September. The bank saw its net profit for the September quarter fall 55.8 percent to 9.09 billion rupees from 20.58 billion rupees a year ago. He had announced his first loss, amounting to 1.2 billion rupees, in the month of June.
In sector indices, the Nifty Pharma index is trading up 4%, thanks to gains from Divi's Labs and Dr. Reddy's. The Nifty PSU Bank index also grew more than 4%, under the impetus of the Oriental Bank of Commerce and the Union Bank of India.
Investors will look forward to the September quarter results of the companies. Bank of Baroda, Tata Power, Tata Motors, Union Bank of India, Lupine, DLF, HDFC, Axis Bank, National Bank of Punjab, SAIL and Vedanta are some of the leading companies expected to announce their second quarter results this week.
GLOBAL MARKETS
Asian equities rebounded after last week's sharp declines on Monday, although confidence remained fragile in the face of growing concerns over corporate earnings and slowing global economic growth.
The largest MSCI index of Asia Pacific ex-Japan equities rose 0.4% after falling nearly 4% last week.
Japan's Nikkei rose 1%, while Australian equities rose 0.8%. KOSPI of South Korea added 0.7%.
(with Reuters entry)
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