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India Equities Consolidate As Telecom And Consumer Earnings Strength Offset Banking Weakness
Indian markets opened flat as heavy telecom and consumer earnings strength from Airtel and Titan offset weakness across financials and delayed sector rotation resolution.
India’s benchmark indices opened largely flat this morning, consolidating after sharp upside momentum recorded through the prior month as investors balanced broad strength in select sector earnings against softness in financial stocks. Titan’s quarterly net profit increased 59.1% YoY to ₹1,120 crore and revenue rose 28.8% to ₹18,725 crore, while Bharti Airtel posted a massive 89% YoY net profit jump to ₹6,791.7 crore and revenue grew 25.7% to ₹52,145 crore. Financials meanwhile saw selling bias as traders remained cautious around credit cycle slope. Sector rotation flows remained the main driver of index tone into the open.