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By 9.30 am, Sensex was trading 209.24 points, or 0.32 per cent lower at 65,736.23, and Nifty 50 down was 54.25 points, or 0.28 per cent to 19,610.45. ....
In the Nifty50, State Bank of India, Wipro Ltd, Dr Reddy’s Laboratories, Grasim Industries and HDFC Bank were the top gainers. ONGC, Hero Motocorp, Tata Motors, Titan and Bharti Airtel Ltd were top losers on Monday. ....
While the headline valuation may not look very expensive, it could be misleading due to the large contribution of banks to overall profits of Nifty. A sectoral break-up of net profits of Nifty50 index across shows that the contribution of banks has gone up from 21% in 2022 to 27% in 2023. ....