The Indian market is edging higher on Wednesday, extending yesterday's gains, after Apple Inc.'s 125 percent jump in quarterly profit beat estimates and concerns eased over a possible U.S. default.
Most Asian stocks are rising, taking cues from a rally on Wall Street overnight. A government report released yesterday showed that U.S. housing starts rose a larger-than-expected 14.6 percent in June, improving sentiment on the outlook for the world's largest economy.
The benchmark 30-share Sensex is currently trading off the day's high at 18,687, up 33 points or 0.18 percent from its previous close, while the broader Nifty index is gaining 10 points or 0.19 percent.
Second-line stocks are rising notably and the market breadth is extremely positive, with more than 2 shares gaining ground for every share that declined on the BSE.
Among the top gainers, Reliance Industries, Tata Motors, Sterlite, Jindal Steel, ITC, ONGC, Maruti Suzuki, Reliance Infrastructure, DLF and Reliance Communication are rising between 0.4 percent and 1.6 percent. HDFC Bank is gaining 0.8 percent, a day after the private sector lender reported a 34 percent rise in quarterly net profit.
Dr Reddy's Laboratories is rising 0.7 percent and Exide Industries is up marginally ahead of their quarterly results today. Honeywell Automation India is rising half a percent on reporting a 17 percent rise in quarterly net profit. Shilpa Medicare is up 1.7 percent after it bought a controlling stake in Hyderabad-based NU Theraputics.
Jindal Steel & Power is adding 0.8 percent after its Australian arm raised stake in Rocklands Richfield, listed on Australian Stock Exchange. Cox & Kings is moving up 2 percent after the travel and tour operator received government's approval to raise Rs 750 crore via a share placement to overseas investors.
On the other hand, Wipro is declining 2.7 percent after the country's third largest software services provider reported a 2.9 percent drop in first-quarter consolidated net profit. Meanwhile, the company said that the glitches faced by the Employees' State Insurance Corporation's insurance portal have been resolved.
Hindalco Industries is losing 1.3 percent, Tata Power is down half a percent, Mahindra & Mahindra is moving down 0.3 percent and Bharti Airtel is posting a modest 0.2 percent loss. BHEL is down half a percent after the industrial equipment maker shortlisted 4 banks for a share sale. Crompton Greaves is losing ground for the second session, down a whopping 7.6 percent on posting disappointing first-quarter results.
Prism Cement is down 0.4 percent on posting a net loss of Rs 9.97 crore for the quarter ended June. Chambal Fertilizers & Chemicals is little changed after the company proposed to demerge its shipping business.
The benchmark indexes Sensex and the Nifty rose around 0.8 percent each on Tuesday, with IT and technology stocks leading the gainers, after technology giant IBM reported better-than-estimated second-quarter profit and boosted its full-year profit forecast. HDFC Bank, the country's second-largest private sector lender, also reported quarterly earnings that beat Street estimates.
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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.