The Indian market is rising modestly in early trading on Monday, shrugging off China's interest rate hike over the weekend. However, trading remains range bound ahead the expiry of near-month derivative contracts on Thursday.
The benchmark 30-share Sensex is currently up 74 points or 0.37% and the 50-share Nifty is rising by 22 points or 0.36%. The BSE mid-cap and small-cap indexes are gaining 0.61% and 0.72%, respectively. Sector-wise, capital goods, consumer durables, realty, healthcare and IT stocks are in demand.
Reliance Communication is down nearly 3% after Mukesh Ambani's Reliance Industries denied market talk that it would take control of the telecom company controlled by his younger brother Anil Ambani.
Patni Computer Systems is gaining half a percent on the buzz that iGate Corp could acquire a majority stake in the company for around $1 billion. NMDC is up 1.79% on reports that it will hike iron ore prices from January.
Tata Steel is declining 0.63% after it reportedly appointed lead managers to raise up to $1 billion through the sale of shares with different voting rights. Ravi Kumar Distilleries is trading at Rs.83.75 on its debut, up nearly 31% compared to its initial public offering price of Rs.64 per share.
GMR Infrastructure is rising 1.57% after its unit GMR SEZ & Port Holdings Private signed a share subscription and shareholders agreement to buy a 51% stake in Kakinada SEZ. Timken India is up 0.76% after it received board approval to expand its tapered roller bearing manufacturing capacity in India.
BF Utilities is climbing 5.39% on receiving board approval for a foreign direct investment of Rs.500 crore in its unit Nandi Infrastructure Corridor Enterprises. Pradeep Metals is down 3% ahead of a board meeting this week to consider issuance of equity shares, warrants or other convertible instruments to its promoters on a preferential basis.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.