Indian shares edged higher on Wednesday, tracking firm Asian cues amid expectations that the Fed would stick to its $85 billion monthly bond-buying program until next year to bolster the economic recovery.
Meanwhile, the Bank of Japan concluded its two-day policy meet with Governor Haruhiko Kuroda pledging to conduct money market operations so that the monetary base will increase at an annual pace of about 60-70 trillion yen. Japan's Nikkei index is rallying 1.1 percent while stocks elsewhere are posting modest gains. Australia's All Ordinaries index is losing 0.3 percent after a report from the Westpac-Melbourne Institute showed a measure of Australian consumer confidence slumped by the most in 17 months in May.
Trading off its day's high, the benchmark 30-share Sensex is currently up 58 points or 0.29 percent at 20,170. The broader Nifty index is up by 15 points or 0.24 percent to 6,129, while the BSE mid-cap and small-cap indexes are up about 0.3 percent each.
IT stocks like Infosys, TCS and Wipro are up about a percent each after the Indian rupee fell to a six-month low of 55.42 yesterday, weighed down by weak local equities and sustained dollar demand from importers. Tech Mahindra is climbing 7 percent after the software services exporter reported a 25 percent rise in fourth-quarter consolidated net profit, beating estimates.
Sugar stocks are gaining ground after the Uttar Pradesh government allowed all existing as well as new sugar mills to avail of the stamp duty and land registration waivers for purchase of land to build capacity. Balrampur Chini is gaining 1.3 percent and Shree Renuka is up 1.1 percent.
United Spirits is rallying 3.5 percent after Morgan Stanley initiated coverage with a 'buy' rating on the stock. SREI Infrastructure Finance is adding a percent after its board approved a proposal to raise up to Rs. 1,500 crore by issuing debentures in one or more tranches this fiscal.
JSW Ispat is rising half a percent as it signed a pact to buy the cement grinding facility of Heidelberg Cement India in Raigad for an undisclosed amount.
BHEL is moving up 0.4 percent and SBI is adding 1.2 percent, while Tata Steel shares are marginally lower ahead of their Q4 results tomorrow.
Ranbaxy shares are down 0.8 percent. The Business Standard reported that the health ministry has asked the Drugs Controller General of India to examine comprehensively all the dossiers and drug applications on the basis of which approvals had been granted to the company in the past.
Indian shares fell for a second straight session on Tuesday, mirroring weak global cues. The benchmark 30-share Sensex ended near the day's low at 20,112, down 112 points or 0.56 percent from its previous close, while the broader Nifty index fell by 43 points or 0.7 percent to 6,114.
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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.