The Indian market cut its early loss and ended a volatile session on a flat note Wednesday, thanks to some selective buying in telecom, information technology, realty, healthcare and metal stocks. The 30-share BSE Sensex swung in both directions before ending up 22 points or 0.12% at 18,667, with 18 of its components edging higher.
ACC(up 2.98%), Bharti Airtel (up 2.59%), SBI (up 2.07%), Hindustan Unilever (up 1.74%), Reliance Communication (up 0.98%), Mahindra & Mahindra (up 0.91%) and TCS (up 0.87%) were the prominent gainers.
However, heavyweights such as Reliance Industries, HDFC Bank, Tata Motors, Maruti Suzuki and ICICI Bank declined between 0.4% and 1% on profit taking, limiting the upside.
After witnessing wild swings, the broader Nifty closed almost flat at 5,608, while the BSE mid-cap and small-cap indexes edged higher by about half a percent each, indicating a bullish undercurrent in the broader market. The market breadth on the BSE was slightly positive, with 1600 gainers versus 1348 decliners.
Elsewhere, most Asian stocks fell on Wednesday, dragging the MSCI Asia Pacific index for a second consecutive session, as a rise in the yen to a fresh 15-year high threatened overseas earnings of Japanese exporters and renewed concerns about the health of European banks gave way to another bout of profit taking following recent sharp gains.
Likewise, with banks retreating further amid worries about fresh capital requirements, European stocks extended losses, and the U.S. index futures dropped ahead of a Federal Reserve's Beige Book business survey report that may show the U.S. recovery is stalling.
Back home, cement stocks such as India Cements, Madras Cement and Prism Cement gave off about 3%-4% on profit taking after yesterday's strong rally. However, ACC firmed up nearly 3%, extending its gains for a second consecutive session. Ambuja Cements also ended up around a percent.
Heavyweight Reliance Industries (RIL) edged down 0.20% in volatile trading. Tata Global Beverages pared early gains to end 0.12% lower. Maruti Suzuki, which is setting up a third plant at its facility in Manesar, ended down 0.67%. Mortgage lender HDFC eased 0.38% after it relaunched its teaser home loan scheme.
Private carrier SpiceJet added 1.71% after it commenced international flights to Kathmandu and Colombo on October 7. Tata Steel rose 0.54% on fund-raising reports. Gammon Infrastructure soared 6.61% after it achieved financial closure for a highway project in Bihar.
State-owned power producer Neyveli Lignite Corporation rose 1.15% on reports that it may take part in an ultra mega power project coming up at Cheyyur in Tamil Nadu. Shree Renuka Sugars advanced 2.49%, extending its over 4% surge in the previous session on reports that it is setting up an integrated sugar-cum-ethanol plant in Maharashtra. Drugmaker Sun Pharmaceutical Industries rose 2% after it received a favorable court verdict in its case with Taro
In the telecom sector, Bharti Airtel and Idea Cellular rose over 2% each, and Reliance Communication, which is expected to unveil a fund-raising plan soon, closed up by a percent. Software exporters like Infosys, TCS and Wipro reversed initial losses to finish modestly higher.
Banking stocks closed on a mixed note after the RBI said deregulation of savings bank deposit rate is on its agenda. Rate-sensitive realty stocks closed mostly higher ahead of RBI' monetary policy review next week.
Shares of tea companies like Assam Company (up 3.48%), Rossel Tea (up 6.15%) and Bengal Tea & Fabrics (up 8.34%) rallied on expectations that tea prices will climb after pest damaged crops in the main growing northern region.
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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.