India's equity benchmarks open little changed as financials offset broader gains
The Nifty 50 (.NSEI), opens new tab was down 0.01% to 25,108.55 points, while the BSE Sensex (.BSESN), opens new tab lost 0.08% to 82,193.62, as of 9:15 a.m. IST.
Ten of the 13 major sectors logged gains at the open. However, the heaviest weighted financials (.NIFTYFIN), opens new tab and private banks (.NIFPVTBNK), opens new tab lost 0.5% and 1.2%, respectively.
Axis Bank (AXBK.NS), opens new tab lost 6% after posting a surprise profit drop in the June quarter due to an increase in bad loans after a one-time industry benchmarking exercise. It was the top Nifty 50 loser.
The broader, more domestically focussed small-caps (.NIFSMCP100), opens new tab and mid-caps (.NIFMDCP100), opens new tab were flat.
Asian stocks rose on the day, after data showed U.S. retail sales rose after two months of decline in June, while fewer-than-expected jobless claims were filed last week, indicating resilience in the world's largest economy, which boosted investor confidence globally.
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