Monday saw a slight dip in Indian shares, negating their initial surge. The primary S&P BSE Sensex fell by 83 points, or 0.1 percent, settling at 71,511 in early trading. Simultaneously, the wider NSE Nifty index saw a decrease of 26 points, or 0.1 percent, standing at 21,757.
ONGC experienced a 1.3 percent drop following a 10 percent drop in net profit for the third quarter, year on year. Similarly, Tata Power faced a 2.5 percent decrease despite reporting a minor rise in consolidated net profit for the same quarter. Bandhan Bank's stocks descended by 3.3 percent, notwithstanding an increase of more than twice in profit for the third quarter.
Hero MotoCorp's shares depreciated by 2.9 percent, despite announcing a 51 percent increase in net profit for the recent quarter. However, IRFC saw a more significant dip of 5.5 percent due to a marginal drop in third-quarter profit. Shree Renuka Sugars fell by 2.1 percent, having recorded a consolidated net loss of Rs 172.3 crore for the quarter ending in December.
The Multi Commodity Exchange of India also fell by 3 percent after revealing a net loss of Rs 5.35 crore in the third quarter. In contrary, some healthcare and IT shares showed a rise, with Dr. Reddy's Laboratories, HCL Technologies, Wipro and Divis Laboratories augmenting by 2-4 percent.
