ICICI, HDFC Bank boost markets at open after upbeat Q4 results

India's benchmark indices opened higher on Monday, led by advances in heavyweights ICICI Bank and HDFC Bank, which both reported solid fourth-quarter results over the weekend. The Nifty 50 was up 0.41% at 23,949.15, while the BSE Sensex was up 0.45% to 78,903.09 as of 9:15 a.m. IST. Financials increased by 1%, with ICICI Bank and HDFC Bank contributing 2.1% and 0.9%, respectively.

Except for information technology, all key areas advanced openly. The broader mid- and small-caps both gained 0.5%. Shares of both ICICI Bank and HDFC Bank saw an increase in value at the open.