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Indian shares slip; investors await Jio IPO
Indian shares declined on Monday, with private banks leading the losses as investors digested earnings from key lenders, while elevated crude prices weighed on sentiment. Investors awaited the country’s largest-ever IPO by billionaire Mukesh Ambani’s Jio Platforms that opens for subscription on Wednesday. Private sector banks dropped 1.9%, with HDFC Bank and Axis Bank losing 2.3% and 4.2%, respectively, after missing quarterly earnings views amid narrowing margins. “With earnings of most banks largely in line with, or ahead of, expectations, barring Axis Bank, the selloff looked disproportiona...
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