Indian market closes on fresh record high on Monday
Mumbai, Jan 22 (IBNS): Indian benchmark indices ended at fresh record closing high on Monday with BSE Sensex up 286.43 points at 35,798.01 and NSE Nifty up 71.50 points at 10,966.20.
The record closing was driven by liquidity, according to media reports.
Top gainers included TCS, Reliance, BHEL, ONGC, Axis Bank and Tech Mahindra while HPCL, Idea Cellular, GAIL, Wipro, Tata Motors (D), HDFC and BPCL were some of the key stocks that declined.
India's leading private sector lender Axis Bank reported improvement in asset quality performance in its third quarter earnings report, according to media reports.
According to Axis Bank, its profit for the third quarter grew by 25.3 per cent year-on-year to Rs 726.4 crore despite fall in other income & operating income, driven by lower provisions and higher net interest income.
The bank reported that its net interest income grew by 9.2 percent to Rs 4,731.52 crore compared to Rs 4,333.73 crore in the same period a year ago, with strong loan growth at 21 percent year-over -year.
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