Indian shares rose sharply on Wednesday, with rate-sensitive realty, banking and auto stocks spearheading the rally, after Reserve Bank of India Governor Duvvuri Subbarao said he was "very happy" about falling inflation and the central bank will take note of it when discussing potential interest rate cuts. Other Asian markets are turning in a mixed performance, with Japanese shares rallying to a fresh 5-1/2 year high on further weakening of yen, while the markets in Australia, China, New Zealand and South Korea are subdued.
The benchmark BSE Sensex is currently up 228 points or 1.16 percent higher at 19,951, while the broader Nifty index is at 6,064, up 69 points or 1.14 percent from its previous close. Mortgage lender HDFC is climbing 2.8 percent, leading the gainers in the Nifty pack, while HDFC Bank, Lupin, IDFC, DLF, PNB, IndusInd Bank, SBI, JP Associates and Reliance Infrastructure are up about 2 percent each.
Jet Airways is climbing 2.3 percent after market regulator SEBI allowed the airline to sell shares through successive offers for sale without the requirement of 12-week cool off period to comply with the minimum public holding norms.
Hindalco Industries is gaining 1.9 percent after its subsidiary Novelis posted turnaround results for the fourth quarter of fiscal 2013. Bajaj Auto is moving up 0.9 percent ahead of its Q4 results due out tomorrow, while ITC is adding 0.7 percent ahead of its quarterly results on Friday. DLF is gaining 1.9 percent after its $345 million share sale got a subscription of over two times.
Hero MotoCorp is adding 1.7 percent after it forayed into Central America to help increase its international business to 10 percent in the next 4-5 years.
Pfizer is rising 1.4 percent on reporting a 21 percent rise in quarterly net profit. United Spirits is edging up 0.1 percent despite reports that it has received a show cause notice for alleged service tax evasion.
Fortis Healthcare is declining 0.9 percent as it set issue price at Rs. 92 a share for an institutional share placement. Novartis India is losing half a percent on disappointing Q4 results.
Benchmark indexes Sensex and the Nifty rose about 0.2 percent each on Tuesday after government data showed India's headline inflation slowed for a third straight month in April, allowing room for the RBI to extend monetary easing to revive flagging growth.
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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.