India's benchmark indexes rose on Monday, boosted by strong earnings from heavyweights HDFC Bank and ICICI Bank, while a decline in Reliance Industries, amid concerns over softness in its oil-to-chemicals and retail segments,

Icici reported earnings of 40 cents a share for the June-ended quarter, for an increase of 11% year over year, according to FactSet. Revenue rose 11% to $3.498 billion. Strong loan growth resulted in higher core lending income for the bank,

The divergence in performance comes on the back of robust earnings reported by key banking heavyweights over the weekend.