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Benchmarks trade higher tracking gains in Asian markets.
Among key stocks, ICICI Bank grew more than 9% in intraday trading after the private sector bank reported a profit in the September quarter. 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, of 1.2 billion rupees, in the month of June.
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 to announce their results of the second quarter this week.
Among the macroeconomic data, investors are eagerly awaiting the publication Wednesday of data from the index of eight industrial infrastructure and the budget deficit for September, as well as data for the manufacturing industry Nikkei PMI on Thursday.
Earlier in the day, the rupee opened close at 73.30 against the US dollar, up from the previous close of 73.47 against the greenback.
GLOBAL MARKETS
Asian equities rallied after last week's sharp declines on Monday, although confidence remained fragile amid growing concerns over corporate earnings and slowing global economic growth.
The largest MSCI share of Asia-Pacific stocks outside Japan rose 0.4% after dropping nearly 4% last week.
Japan's Nikkei rose 1% while Australian stocks rose 0.8%. KOSPI of South Korea added 0.7%.
(with Reuters entry)
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