Indian benchmarks open flat as gains in HDFC Bank, ICICI Bank offset Reliance's losses
The Nifty 50 (.NSEI), opens new tab was down 0.02% to 24,962.3 points, while the BSE Sensex (.BSESN), opens new tab gained 0.03% to 81,784.3, as of 9:19 a.m. IST.
Eight of the 13 major sectors logged losses while the heaviest-weighted financials (.NIFTYFIN), opens new tab rose 0.6%.
India's top two private banks, HDFC Bank (HDBK.NS), opens new tab and ICICI Bank (ICBK.NS), opens new tab, rose 1% and 1.6% after reporting higher-than-expected first-quarter profits on Saturday.
Reliance Industries (RELI.NS), opens new tab lost 1.7% as multiple brokerages flagged weakness in the oil-to-chemicals and retail businesses as areas of concern.
The broader small-caps (.NIFSMCP100), opens new tab and mid-caps (.NIFMDCP100), opens new tab lost 0.4% each
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