Earnings woes hit Indian shares; ICICI Bank bucks the trend

IDFC First Bank

27/01/2025 06:58

** India's benchmark NSE Nifty 50  .NSEI  and BSE Sensex
 .BSESN  drop 0.75% each, weighed by slowing corporate earnings 
    ** All 13 top sectors decline; smallcaps  .NIFSMCP100  and
midcaps  .NIFMDCP100  lose 3.7% and 2.3%, respectively
    ** JSW Steel  JSTL.NS  loses 2% on Q3 profit miss; metal
index  .NIFTYMET  down 2%
    ** IDFC First Bank  IDFB.NS  drops 7.5% on profit fall,
while CreditAccess Grameen  CRDE.NS  sheds 6% on posting a loss,
with both hit by souring microfinance loans
    ** AU Small Finance Bank  AUFI.NS  declines 7% after cutting
FY25 loan growth forecast
    ** In contrast, No. 2 private lender ICICI Bank  ICBK.NS 
gains 1.7% and helps Nifty cut losses after a higher quarterly
profit on healthy loan growth; brokerages call a safe haven
    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))