Choppy start on Dalal Street with Indian benchmark indices losing ground in early trade on Monday. Both Sensex and Nifty saw some weakness, tracking losses in index-heavyweights Reliance Industries, TCS, and Infosys amid sustained foreign fund outflow. Investors are also cautious ahead of the US presidential election that takes place tomorrow.

The 30-share BSE index gyrated 473 points in the first 30 minutes of trade, and NSE Nifty fell 41.85 points.

Here’s a list of the top losers and gainers in the Nifty pack.

Top Nifty Gainers Top Nifty Losers
IndusInd Bank RIL
ICICI Bank Divi’s lab
Bharti Airtel HCL Tech
Axis Bank Eicher Motors
SBI India TCS

*as of November 2, 10:50 am

These are the top stocks in news today.

Reliance Industries down 5%

The shares of Mukesh Ambani-owned Reliance Industries (RIL) lost 5% during early trading on Monday after the company reported a 32.5% year-on-year decline in its standalone net profit to ₹6,546 crore. Refining and petrochemicals, which together make for over three-fourth of the company’s revenue, took a major hit during the quarter. The overall revenue declined 32.7% year-on-year to ₹61,246 crore during the same period.

ICICI Bank gains 5%

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The shares of private lender ICICI Bank gained over 5% after it reported over a six-fold jump in its standalone net profit at ₹4,251 crore for the second quarter ended September 30. The company’s total standalone income stood at ₹23,650.77 crore, it said in a regulatory filing.

Hero MotoCorp trades 2%

The shares of India’s largest two-wheeler giant Hero MotoCorp gained 2% on Monday after it registered its highest-ever monthly sales in October. The two-wheeler maker reported a 35% rise in its domestic wholesales at 7.91 lakh units.

IndusInd Bank trades 7% higher

IndusInd Bank gained over 7% on Monday despite the bank reporting a 53% year-on-year decline in its standalone net profit at ₹647.04 crore in the quarter ended September 30. The bank’ ’s gross Non-Performing Assets (NPAs) were nearly flat at 2.21% of the gross advances as of September 30 vs 2.19% in the year-ago period.

Axis Bank trades 3% higher

The shares of Axis Bank were trading 3% higher after the bank had revised the agreement with Max Financial, the promoter of Max Life after the Reserve Bank did not allow it to acquire 17% stake in Max Life Insurance directly. The lender said it will now acquire a 19% stake in the insurance firm along with its subsidiaries.

Future Retail opens 1.5% higher

The shares of Future Retail opened 1.5% higher after Future Retail informed Indian stock exchanges BSE and NSE that Amazon’ entirely misconceived’ the agreement between Amazon and Kishore Biyani (CEO of Future Group), same as between Future Retail and its promoters. The filing said that the stock exchanges must not consider the order of a Singapore arbitration court.

SEE ALSO: Hero Motocorp shares gain after it logs ‘highest-ever’ sales in October

Former HDFC Bank CEO Aditya Puri joins Carlyle Group — will advise the global investment firm on Asia bet



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