Indian shares are little changed in early trading on Tuesday following the previous session's selloff. Investors await wholesale inflation data due out later in the day for direction. Other Asian markets are trading mostly lower, reversing early gains, with Chinese shares bearing the brunt of the selling on growth concerns.
The benchmark BSE Sensex is currently down 16 points or 0.08 percent at 19,675, while the broader Nifty index is down 7 points or 0.12 percent at 5,974.
Banking stocks are trading mostly lower after an investigation by the RBI into allegations of money laundering found that there are various discrepancies, including fictitious PAN and non-compliance of KYC norms by private banks.
Tata Coffee and Rain Commodities are tumbling 3-6 percent on disappointing quarterly results. HT Media is losing 1.7 percent ahead of a board meet today to consider a share buyback proposal. Realty firm DLF is moving down 0.9 percent ahead of a share sale to institutional investors taking place today.
Tata Steel shares are declining 2.8 percent. The steelmaker said it will book a $1.6 billion goodwill impairment charge for the loss of value of Tata Steel Europe on account of a weak macroeconomic environment in Europe.
Ranbaxy Laboratories is losing 1.7 percent after its U.S. subsidiary agreed to pay $500 million in fines to resolve claims that it sold adulterated drugs.
Reliance Infrastructure is down 0.6 percent while Dr Reddy's Laboratories is gaining 1.1 percent ahead of their Q4 results today. Reliance Communication is adding a percent after the telecom major said it would migrate its CDMA voice customers to GSM technology platform to free up spectrum for more and more data usage.
Nestle India is edging up marginally as the FMCG major reported a consolidated net profit of Rs 279 crore for the first quarter ended March, up 1.2 percent from Rs 275 crore in the corresponding period last year.
Pipavav Defence and Offshore Engineering Company is edging up 0.2 percent after it allotted 1.05 crore equity shares to Rakesh Jhunjhunwala on conversion of convertible warrants.
Benchmark indexes Sensex and the Nifty dropped more than 2 percent each on Monday after data showed India's trade deficit widened in April to $17.8 billion from $14 billion last year due to a massive surge in gold imports.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.