(RTTNews) – Indian shares traded notably lower on Monday as U.S. forces struck Iran for a ninth consecutive day, and Iran retaliated by firing missiles toward Jordan that risked widening the conflict into neighboring Israel.
Brent crude prices above $90 a barrel for the first time since mid-June, fanning inflation fears and clouding the outlook for interest rates.
The benchmark BSE Sensex was down 640 points, or 0.8 percent, at 77,512 in early trade while the broader NSE Nifty index fell 170 points, or 0.7 percent, to 24,163.
Reliance Industries rose over 1 percent as it beat Q1 expectations, powered by strong performance across its oil-to-chemicals and telecom business.
HDFC Bank slumped 4.7 percent as it reported a 5 percent year-on-year increase in standalone net profit for the June quarter.
ICICI Bank gained about 1 percent after its Q1 consolidated net profit jumped 14 percent on improved asset quality.
Kotak Mahindra tumbled 3.1 percent despite reporting a 22.55 percent rise in Q1FY27 consolidated profit.
Axis Bank lost nearly 5 percent despite reporting a 23 percent rise in its quarterly profit.
JSW Steel advanced 1.2 percent after its consolidated net profit more than doubled for the quarter ended June.
Alembic Pharmaceuticals added 1 percent after its partner NATCO Pharma received tentative approval from the U.S. FDA for its abbreviated new drug application for Olaparib Tablets in 100 mg and 150 mg strengths.
