Sensex, Nifty Open Lower With Earnings In Focus

(RTTNews) - Indian shares opened lower on Monday despite positive cues from global markets.

The benchmark S&P/BSE Sensex was down 290 points, or 0.4 percent, at 80,936 in early trade while the broader NSE Nifty index was down 140 points, or 0.6 percent, at 24,713.

HDFC Bank rallied 2.6 percent on posting a modest 5 percent rise in Q2 net profit, beating Street estimates.

Tech Mahindra climbed 2.5 percent as quarterly profit jumped 153 percent year-on-year.

Kotak Mahindra Bank slumped 4.5 percent after Q2 profit came in slightly below estimates.

UltraTech Cement dropped 1 percent ahead of its earnings release.

Manappuram Finance plunged 4.2 percent after the Reserve Bank of India asked its subsidiary Asirvad Micro Finance to stop sanctions and disbursals of loans.

Reliance infrastructure was slightly lower after receiving shareholder approval for a Rs. 6,000-crore fundraising plan.