 "Indian shares dips as top lender SBI falls 3% after weak quarterly earnings")
Indian shares were trading lower on Monday, weighed down by a fall in the country's top lender State Bank of India by nearly 3% after weak quarterly earnings.
The NSE Nifty 50 index was down 0.12% at 17,376.90, as of 0353 GMT, and the S&P BSE Sensex fell 0.11% to 58,323.48. The benchmark indexes on Friday had logged their third straight weekly gain, advancing 1.4% each.
Shares of State Bank of India were down after the bank on Saturday missed estimates with a 6.7% fall in first-quarter net profit hit by investment losses.
The Indian rupee opened lower against the dollar on Monday, tracking broad decline in Asian peers. [IN/]
Equities in broader Asia were subdued on Monday following a solid U.S. payrolls data that pushed back against talk of recession but also bolstered the case for more super-sized rate hikes.
(Reporting by Rama Venkat in Bengaluru;editing by Neha Arora)
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app