Sensex, Nifty Edge Lower On Mixed Global Cues

Indian shares were moving lower on Monday ahead of a week packed with major quarterly earnings announcements and the monthly derivatives expiry.

Global cues were mixed as investors weighed inflation risks driven by high crude oil prices.

The benchmark 30-share BSE Sensex fell 354 points, or 0.6 percent, to 60,468, while the broader NSE Nifty index was down 89 points, or half a percent, at 18,025.

ICICI Bank soared 8.4 percent after the private sector lender reported its highest ever quarterly net profit.

Mahindra & Mahindra, ONGC and Axis Bank rose 1-2 percent while Tata Motors, Bajaj Auto, Shree Cement, Asian Paints and Divis Laboratories all fell around 3 percent.

JSW Steel dropped 1.4 percent on news it plans to introduce a differential pricing mechanism.

Apollo Tyres fell 1.2 percent after launching a premium European brand in India.

Reliance Industries declined 0.8 percent despite the energy-to-telecom behemoth reporting better-than-expected financial results for the quarter ended September.

Tech Mahindra was down 0.7 percent ahead of its earnings release.

Tata Consumer Products lost almost 2 percent after its Q2 net profit came in below expectations.

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