MUMBAI: Indian stock markets are likely to be rangebound on Monday while SGX Nifty trends indicate a tepid opening. On Friday, the BSE Sensex ended at 60,821.62, down 101.88 points or 0.17%. The Nifty was at 18,114.90, down 63.20 or 0.35%.

Asian shares started steady on Monday ahead of a week packed with major quarterly earnings announcements, while the dollar hovered near October lows after three weeks of risk-friendly sentiment hurt safe-haven currencies.

The results will be closely watched after a strong start to the US earnings season for many companies, especially financials, helped both the Dow Jones Industrial Average and the S&P 500 touch record highs last week, though the Nasdaq fell on Friday.

MSCI's broadest index of Asia-Pacific shares outside Japan has also posted gains in the past three weeks, which if it can hold onto them this week, would make October the benchmark's best month of 2022.

On Monday morning, the regional benchmark was flat, with a 0.5% gain in Australia balanced by a 0.6?ll in Korea. Japan's Nikkei lost 1% and U.S. S&P 500 futures shed 0.18%.

Back home, Reliance Industries Ltd (RIL) on Friday reported a 43% jump in quarterly profit, beating analysts’ estimates, on higher demand for fuels and chemicals. Net profit rose to ?13,680 crore in the quarter ended 30 September from ?9,567 crore in the year earlier, the company said.

ICICI Bank on Saturday reported 24.7% rise in consolidated net profit to ?6,092 crore for the September quarter of fiscal 2022. Asset quality improved as gross non-performing assets (NPAs) fell to 4.82% of gross advances as of September 30, 2021 as against 5.17% by the year-ago period.

Tata Sons Ltd plans to invest at least $2 billion in its ambitious super app TataNeu, and later raise an additional $5 billion from external investors by selling minority stakes in the digital venture.

Among key companies, Tech Mahindra, HDFC Assest Management Company, Colgate Palmolive, Kansai Nerolac, Aditya Birla Sun Life AMC, Home First Finance Company India, CEAT and CSB Bank will announce their September quarter results today.

Asian shares have largely lagged their US and European counterparts in recent months mainly due to regulatory ructions and fears of slowing growth in China. In the latest announcement to worry some investors, the top decision-making body of the Chinese parliament said on Saturday it will roll out a pilot real estate tax in some regions.

The dollar index was last at 93.667, hovering near its month low of 93.455 hit last week, and well off mid-October's 12-month high.

Markets are still trying to position themselves for a widely expected tapering of the U.S. stimulus programme this year, and the possibility of rate hikes late in 2022. Federal Reserve Chair Jerome Powell on Friday said the U.S. central bank should start the process of reducing its support of the economy by cutting back on its asset purchases, but should not yet touch interest rates.

As tapering looms, U.S. benchmark yields have been rising and yields on 10-year Treasury notes hit a five-month high of 1.7064% last week. In early Asia they were last 1.6465%.

Oil prices stayed elevated but just off recent multi-year peaks. Brent crude rose 0.13% to $85.65 a barrel, while U.S. crude rose 0.38% to $84.08 a barrel. Spot gold rose 0.06% to $1793.4 an ounce after posting gains for the past two weeks on rising inflation concerns.