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While the profit was in line with expectations, the topline missed an ET Now poll of Rs 8,934 crore.

Dow rises 108.18 points, S&P 500 opens higher by 19.45 points and Nasdaq Composite gains 96.24 points

The same stood at Rs 683 crore in the same quarter of last year. On a sequential basis, net profit fell 29% from Rs 13,428 crore reported in the previous quarter. The net premium income dropped 25% quarter-on-quarter

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"On 20th July, we had the peak of the market, Nifty just fell short of touching 20,000 and came back from there. In the last 20 days, we have been in a correction to a flat movement of the market. In fact, if we expand this horizon slightly longer, October 2021 is when we were at 18,500 on Nifty and today at around 19,500. That is hardly 6-7% move in more than 20 months.So that is the position. It is reflecting a consolidation that has been happening."

Besides banks, other rate-sensitive sectors like realty and auto also ended on a weak note. Shares of Zee Entertainment Enterprises (ZEEL) ended 16% up after NLCT gave approval to the Zee-Sony merger

The Rs 9 crore issue, which opened on August 7 and closed on August 9, received bids for over Rs 2,500 crore. The IPO is completely a fresh equity issue of 21.42 lakh shares. There is no offer for sale (OFS) segment.

In July 2022, the RBI had put in place an additional arrangement for the invoicing, payment, and settlement of exports and imports in rupees. The settlement of trade transactions with other countries would require Indian banks to open Special Rupee Vostro accounts of correspondent banks of the partner countries.

Though Nifty seems to have formed a new lower top at 19645 levels on Wednesday, there is no indication of any sharp weakness from the lower highs.Nifty has been struggling to hold a short-term moving average i.e. 20 EMA mainly due to the underperformance from the banking pack.

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