Sensex, Nifty End Modestly Lower

Indian shares ended modestly lower on Monday, tracking weak global cues after a government crackdown pushed China stocks to their worst day in a year.

Disappointing earnings results from Mukesh Ambani-owned oil-to-telecom conglomerate Reliance Industries also dented sentiment.

The benchmark 30-share BSE Sensex dropped 123.53 points, or 0.23 percent, to 52,852.27, snapping its two-day winning streak. The broader NSE Nifty index ended down 31.60 points, or 0.20 percent, at 15,824.45.

Among the prominent decliners, BPCL, SBI, Wipro and JSW Steel fell 1-2 percent.

Reliance Industries gave up 1.5 percent as it reported a 7 percent decline in quarterly profit on the back of an increase in total expenses.

SBI Life led the gainers to surge nearly 4 percent while UltraTech Cement, Divis Laboratories, Hindalco and Bajaj FinServ all rose about 2 percent.

ICICI Bank ended marginally lower. The private sector lender reported a 78 percent rise in Q1 standalone net profit, but the bank's asset quality worsened with gross non-performing assets as a percentage of total loan book increasing to 5.15 percent as of 30 June 2021 from 4.96 percent as of 31 March.

Kotak Mahindra Bank gained 1 percent on reporting a 31.9 percent increase in Q1 profit.

Yes Bank jumped 23 percent after reporting a more than a four-fold jump in net profit for the quarter ended June.

ITC shed 0.6 percent despite posting better-than-expected first-quarter results.

Sun Pharmaceutical Industries rose over 1 percent after it signed license and supply agreements with Italian specialty pharmaceutical company Cassiopea SpA for acne treatment drug Winlevi in the United States and Canada.

Newly listed food-tech firm Zomato surged 9.6 percent after listing in the stock exchanges last Friday at a strong premium to the IPO price.

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