The Indian market is rising modestly on Tuesday, with positive global cues and a clarification from the government on Indo-Mauritius tax treaty offering support. The major U.S. averages rose about half a percent each overnight and the other Asian markets are posting broad-based gains this morning on hopes of a resolution to the Greek debt crisis.
After some panic selling yesterday over Mauritius tax buzz, the benchmark BSE Sensex is currently up 70 points or 0.4 percent at 17,577, while the 50-share Nifty index is gaining 17 points or 0.32 percent. Second-line stocks are also posting modest gains and the market breadth is slightly positive, with advancing shares pacing declining ones by 953 to 940 shares on the BSE.
Banking, metal, auto and IT stocks are among the prominent gainers, but realty and consumer durable stocks are subdued, limiting the upside.
Reliance Industries is rising 0.9 percent after oil minister S Jaipal Reddy said he will approach the CAG report on the production-sharing contracts for the KG basis gas with an open mind.
Hero Honda Motors is adding half a percent after it received shareholder nod to change the name of the company to Hero MotoCorp, post the exit of Japan's Honda Motor from the Munjals-promoted firm.
Bharti Airtel is gaining 1.3 percent after data released by industry body COAI showed GSM operators added more than 9.5 million subscribers in May. Dr Reddy's Laboratories is up 0.4 percent after the U.S. FDA approved its generic version of Johnson & Johnson's antibiotic Levaquin.
Gail India is up 0.7 percent after it joined hands with UJVNL to set up gas-based power generation plants in Uttarakhand. Sowbhagya Media is locked at the 5 percent upper circuit limit after it proposed to consider a bonus issue. Siemens is rising marginally on bagging a Rs.167-crore cargo handling system contract from Delhi Cargo Service Centre.
Reliance Communication and Reliance Infrastructure are little changed after closing over 6 percent lower in the previous session. HCL Technologies is down 1.7 percent after it signed a five-year product engineering service partnership agreement with Xerox Corp.
Jagran Prakashan is down 0.7 percent on launching its Punjabi daily Punjabi Jagran on June 18. Punjab & Sind Bank is unchanged after the lender raised Rs.300 crore by issuing lower Tier-II bonds.
The benchmark indexes Sensex and the Nifty fell about 2 percent each on Monday amid speculation that the government may seek to amend an existing tax treaty with Mauritius, a move that could halt capital inflows routed through the island.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.