Indian shares gave up early gains to edge lower on Monday as caution prevailed ahead of the Supreme Court hearing in the interest waiver case and the U.S. presidential election.
The benchmark S&P BSE Sensex dropped 220 points, or 0.6 percent, to 39,393, while the broader NSE Nifty index was down 60 points, or half a percent, at 11,581.
Market heavyweight Reliance Industries slumped 4.3 percent after posting a 6.6 percent sequential drop in quarterly profit.
ICICI Bank surged 4.2 percent. The private sector bank reported its highest quarterly profit ever and said that it expects growth to be normal from the next financial year.
IndusInd Bank rallied nearly 4 percent despite the private sector lender reporting a 53 percent year-on-year decline in quarterly profit.
IDFC First Bank lost about 2 percent while DCB Bank climbed 2.5 percent after unveiling their quarterly earnings.
DLF jumped 2.8 percent. The realty major said its rental arm DCCDL has started the process of structuring its rent-yielding commercial assets in Real Estate Investment Trust form.
Eicher Motors fell 2.3 percent after reporting a 7 percent fall in sales of Royal Enfield (RE) in October.
Mahindra & Mahindra edged down slightly after reporting a 14 percent fall in its overall auto sales in October.
Hero MotoCorp gained about 1 percent after the two-wheeler manufacturer reported its highest ever monthly sales in October.
Maruti Suzuki India eased half a percent. The country's largest caremaker reported a 19 percent surge in its October wholesale volumes.
Future Retail edged up half a percent. Any attempt on the part of Amazon to enforce the Emergency Arbitrator order shall be resisted to the fullest extent available under Indian law, the company said in a statement.
HDFC rose modestly and Bandhan Bank jumped 2.5 percent ahead of their earnings results.
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