Indian shares extended recent sharp gains on Friday, mirroring positive Asian cues as U.S. financial giants Morgan Stanley and Bank of America reported better-than-expected fourth quarter earnings and data showed the U.S. job market is strengthening.
Concerns over Europe also eased after debt auctions in Spain and France drew strong demand. Closer home, foreign institutional investors are stepping up buying, driving the rupee higher for the seventh session in a row.
The benchmark 30-share Sensex is currently up 74 points or 0.45 percent at 16,718, with 23 of its components advancing. The 50-share Nifty index is moving up 16 points or 0.33 percent, while the BSE mid-cap and small-cap indexes are gaining 0.8 percent and 0.9 percent, respectively.
Wipro is up almost 4 percent after the company reported a 10 percent rise in quarterly profit, more or less in line with street estimates. Axis Bank is gaining 2.5 percent and ITC is moving up 0.7 percent ahead of their quarterly results today.
Tata Coffee is rallying 4.3 percent after Starbucks, the world's largest coffee company, said it would roll out its first store in India this year in tie-up with the company.
MBL Infrastructures is adding 1.9 percent on winning three housing projects worth Rs.126 crore. KNR Constructions is up 4.9 percent after a joint venture led by the company won an order worth Rs.206.69 crore.
Reliance Industries is losing 0.8 percent as the energy giant unveils its quarterly results after the market close today. Reliance Capital is declining half a percent on profit taking following a rally yesterday after Nippon Life Insurance agreed to buy a 26 percent stake the asset management business controlled by the Anil Ambani-owned company.
SKS Microfinance is tumbling 4.2 percent after the company posted a net loss of 428 crore for the December quarter, hit by higher provisions and loan write-offs. Dish TV India is plunging 4.3 percent after the DTH operator reported a net loss to Rs 42.96 crore for the quarter ended December.
Indian shares rose to more than six-week highs on Thursday, with benchmark indexes Sensex and the Nifty rising around 1.2 percent each, as bluechip companies Bajaj Auto, HDFC Bank and Hero MotoCorp reported strong Q3 results and positive global cues lent further support.
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Market Analysis
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.