Indian shares seen muted; lenders' earnings take centre stage

Business Recorder reported that Indian stocks are expected to start Monday with little movement, as investors digest the September-quarter results of private lenders HDFC Bank and ICICI Bank. GIFT Nifty futures quoted 23,131 at 7:49 a.m. IST, pointing to a steady opening for the Nifty 50, which ended Friday at 23,146.15. Oil prices above $108 a barrel are weighing on risk sentiment.

HDFC Bank's September-quarter profit came in just below analyst forecasts, with lower treasury earnings and bigger bad-loan provisions offsetting solid lending growth. In contrast, ICICI Bank's quarterly profit beat expectations, helped by stronger loan growth and lower provisions for bad loans. Because the two lenders carry the largest weights in the Nifty 50, their share price reactions are seen as important for the wider market.

Brent crude, down from the $110 peak on Friday, stayed around $108 a barrel, as ongoing Middle East tensions kept prices firm. US President Donald Trump has exempted Russia from sanctions and tariffs, a step the report says could boost Russian fuel shipments abroad and reduce supply worries. Foreign portfolio investors switched to net buying on Friday after 15 sessions, bringing in 11.66 billion rupees ($122.79 million). Domestic institutional investors recorded net outflows of 36.61 billion rupees, according to NSE provisional data.