The UK Financial Conduct Authority (FCA) has imposed fines totalling more than $1.7 billion on lenders like Citi Bank, JPMorgan Chase and UBS. Back home, rate sensitives like banks and autos indices touched record highs intraday ahead October CPI and September industrial output data that will be announced today evening. Private sectore lenders ICICI Bank and Axis Bank rallied 1.3 percent and 3 percent, respectively.

HDFC Bank was up 0.5 percent and SBI gained 0.2 percent while housing finance company HDFC climbed over a percent. Auto stocks like Tata Motors, Hero Motcorp and Bajaj Auto rallied 1.5-2 percent followed by Maruti with 0.8 percent whereas M&M fell 0.6 percent. Media report suggested that commercial vehicle maker Tata Motors and utility vehicle maker Mahindra & Mahindra announced price increases in the range of 1-2 percent, citing higher input costs.

Cigarette maker ITC was up 1.5 percent. Tata Steel fell more than 2 percent ahead of second quarter earnings. After market hours, the steel maker said its consolidated profit grew by 36.8 percent year-on-year to Rs 1,254 crore for the July-September quarter led by income from land sale in Mumbai. Earnings missed street expectations on every front. Shares of L&T, Cipla, Sun Pharma, NTPC and Tata Power were down 1-3 percent. In the broader space, state-run Oil India lost more than 2 percent after reporting a 32.7 percent decline in net profit at 608.3 crore in July-September quarter on lower revenues and operational income. Bajaj Hindusthan climbed 6 percent after the company reduced its net loss significantly to 131 crore in July-September quarter from 509.5 crore in same quarter previous fiscal led by lower expenses, cut in sugar business loss, higher other income and strong profit in distillery business. About 1524 shares advanced while 1521 shares declined on the Bombay Stock Exchange.