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The Indian stock indices closed lower on Monday, weighed by Reliance and banking stocks. The BSE Sensex ended 0.23% lower at 52852.27 and Nifty was down 0.20% to 15824.45.
Among Nifty sectoral indices, Energy was down 1.04%, Realty lost 0.96%, PSU Bank and Auto fell 0.80% and 0.62%, respectively.
Reliance Industries dropped 1.37% to Rs 2076.85.
The Indian rupee ended flat at 74.40 against the US dollar.
Wall Street futures were trading lower, while Chinese stocks dropped on broad sell off in the education tech industry.
Earnings Update
Kotak Mahindra Bank: The private sector lender posted a 32% rise in its net profit to Rs 1,641.9 crore for the quarter ended June on a year-on-year basis, helped by gains in other income. The bank’s net interest income grew 6% to Rs 3,942 crore, from same period of FY21. Provisions and contingencies in the quarter declined to Rs 935 crore from Rs 962 crore in the year-ago period. Kotak’s gross NPA ratio stood at 3.56% in the quarter, compared with 3.25% in the previous quarter ended March.