FX.co ★ India Equities Muted in Choppy Morning Session

On a Monday morning characterized by volatility, the BSE Sensex hovered around 83,966, showing little movement after consecutive days of decline. Gains in sectors such as oil & gas, financial services, metals, and banking provided a counterbalance to weaknesses in consumer durables, technology, and automotive stocks. Traders adopted a cautious stance as they awaited the release of Q2 corporate earnings, with approximately 77 companies, including Bharti Airtel and Power Grid Corp, expected to announce results. Additionally, market participants were keenly observing the upcoming meeting between the Reserve Bank of India (RBI) and banks scheduled for Tuesday, amidst apprehensions about tightening liquidity conditions within the banking system. Meanwhile, final data revealed an upward revision in India's manufacturing sector growth for October, buoyed by strong demand. In stock-specific movements, Mahindra & Mahindra advanced by 2%, SBI gained 1.2%, and IndusInd Bank rose by 0.7%. Contrarily, Maruti Suzuki experienced a 3.2% drop despite an 8% year-on-year increase in profit after tax for the July-September quarter. Other early decliners included Titan and TCS, each losing 0.8%.