The Indian market is rising modestly on Wednesday, with continued buying by foreign funds and the favorable progress of the southwest monsoon underpinning sentiment. Also, there are expectations that the upcoming earnings season will be broadly positive.
The other Asian markets are trading on a mixed note after Moody's Investor Service downgraded Portugal's sovereign ratings, rekindling fears about the euro zone debt crisis.
The benchmark BSE Sensex is currently at 18,775, up 31 points or 0.16 percent from its previous close, while the broader Nifty index is gaining 12 points or 0.21 percent. Second-line stocks are also following suit and the market breadth is fairly positive, with about 2 shares gaining for every share that declined on the BSE.
Realty, consumer durable and metal stocks are among the prominent gainers, but banking, power and auto stocks are subdued.
HDFC is rising half a percent ahead of its first-quarter results due on Friday. Infosys is little changed while TCS is gaining half a percent as they unveil their Q1 results next week. BHEL is down 0.3 percent, extending Tuesday's 4.5 percent loss on disinvestment reports. Reliance Industries is rising marginally after losing 2.5 percent yesterday.
Tech Mahindra is posting a modest 0.2 percent gain after British Telecom said it would not immediately lower its stake in the company. BT currently holds a 24.4 percent stake in the Mahindra & Mahindra-owned company.
Idea Cellular is adding 1.2 percent after the Telecom Dispute Settlement and Appellate Tribunal restrained the Department of Telecommunications from collecting a Rs 250 crore fine from the telecom firm.
Kesoram Industries is up 0.3 percent after it reportedly embarked on an exercise to organizationally restructure its tyres division, Birla Tyres. PVR is gaining 1.8 percent after PVR Pictures became its wholly-owned subsidiary.
Container Corporation of India is trading flat after it signed an agreement with Krishnapatnam Port Company to develop rail infrastructure at the port terminal.
Balrampur Chini Mills is declining 0.4 percent after the company closed its offer to buyback the company shares with effect from July 05. Muthoot Capital Services is losing 2.5 percent after its board approve a rights issue at Rs.80 a share.
Shares of oil marketing companies such as HPCL, BPCL and IOC and aviation stocks such as Kingfisher, Jet Airways and SpiceJet are down over a percent each after crude oil prices surged more than 2 percent to top a three-week high in New York overnight.
The benchmark indexes Sensex and the Nifty closed down about 0.4 percent each on Tuesday, as profit taking after a sharp rally last week and subdued Asian cues amid a lack of direction from the U.S. markets kept investors on the sidelines.
For comments and feedback contact: editorial@rttnews.com
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.