Markets Live: Indian markets were off to a firm start today with HDFC Bank shares rising nearly 2%.

Sensex and Nifty were off to a strong start today with banking stocks leading the gains. The Nifty Bank index was up 0.70%, with private sector lender HDFC Bank up nearly 2%. Trading in the stock market this week will continue to be guided by the ongoing quarterly earnings season, with some blue-chips like Wipro and Bharti Airtel scheduled to announce their results this week, say experts. Key factors such as movement of the rupee and crude oil prices would also be keenly watched for further cues, they added. HCL Tech, Bajaj Auto, Kotak Mahindra Bank and BHEL are among the other companies slated to announce their quarterly numbers this week.

9:24 IST
Sensex off to a strong start, HDFC Bank shares jump
The Sensex gave up some of its opening gains though it was firmly in the green. HDFC Bank shares were up 1.5%. Indian rupee today opened marginally lower against US dollar tracking losses in its Asian peers. At 9.15am, the home currency was trading at 73.36 a dollar, down 0.05% from its Friday’s close of 73.33. The currency opened at 73.41 a dollar.

8:58 IST
Opening bell: Cues to look out for before trading today
Asian markets opened lower as investors eyed corporate earnings. Over the weekend US stocks closed mixed. But Chinese stocks jumped the most in more two years after top officials continued to express support for the nation’s struggling private sector. The Shanghai Composite Index rose 3.1 percent to 2,629.90.
HDFC Bank on Saturday said its second-quarter net profit rose 20.59% on higher net interest income and other income. Profit was slightly lower than Bloomberg poll of 17 analysts.
Top-level exits continue at Infosys, reports Business Standard. According to the report, Ken Toombs, global head of consulting, at the company resigned.
Jet Airways is said to pruning its workforce and operations further as the airline battles its worst financial crisis, reports The Economic Times. In another report ratings agency ICRA downgraded the long term rating of InterGlobe Aviation’s Rs 8,000 crore bank facilities.
Tata Sons has increased its stake in Tata Motors, reports Business Standard. According to the report, the Tata Group holding company increased its stake in the flagship firm to 34.2% as of September from 33.3% in June.
Asian Paints Ltd, Hindustan Zinc Ltd, Inox Leisure Ltd, Oberoi Realty Ltd, and Welspun India Ltd are some of the companies that will release their earnings for the September quarter today.

source: livemint.com