Indian shares are little changed in early trading on Thursday, weighed down by negative Asian cues on concerns the euro zone economy may be slipping into a recession. Trading remains a little bit volatile ahead of the expiry of February series F&O contracts.
The benchmark 30-share Sensex is currently at 18,164, up 19 points or 0.11 percent from its previous close while the 50-share Nifty index is up 7 points or 0.13 percent at 5,512. Second-line stocks are extending losses, with BSE mid-cap and small-cap indexes edging down 0.1 percent and 0.5 percent, respectively.
SBI is gaining 2 percent on bargain hunting after plunging over 8 percent the day before on concerns about its exposure to the beleaguered Kingfisher Airlines. Shares of Kingfisher, meanwhile, are down 2 percent. Rival Jet Airways is up 2.8 percent and SpiceJet is adding a percent after the government allowed local airlines to import jet fuel directly.
Bharti Airtel is losing 1.7 percent as South Africa-based Econet Wireless sought at least $3.1 billion in damages from the telecom major in a dispute over ownership of its subsidiary Airtel Nigeria. Hero MotoCorp is edging down 0.7 percent after signing a technology-sharing deal with U.S. motorcycle firm Erik Buell Racing.
DB Realty is declining 2.4 percent on reports Dubai-based telecom operator Etisalat would shut down the operations of its telecoms joint venture with the Indian company.
ABB is up 2.6 percent and Ranbaxy Laboratories is moving up a percent ahead of their quarterly results today. Allahabad Bank is rising 1.3 percent and Punjab National Bank is up marginally after the state-run lenders received board approval for capital infusion.
Sundaram Multi Pap is rising half a percent after the company proposed to consider a bonus issue. Subex is up 0.8 percent on winning a multi-million dollar deal to provide its ROC fraud management solution to a Tier 1 African operator.
Indian shares tumbled on Wednesday as investors took some profits off the table after the recent sharp upmove. The BSE Sensex finished the session down 283 points or 1.54 percent at 18,145, while the broader Nifty index plunged 102 points or 1.82 percent to 5,505.
U.S. stocks posted modest losses overnight, snapping three days of gains, as disappointing earnings from computer maker Dell and downbeat reports on European business activity and Chinese manufacturing weighed on markets.
Traders also reacted to news that Fitch Ratings downgraded Greece's credit rating further into junk status. Fitch said a default is highly likely in the near term despite a bailout deal. The Dow edged down 0.2 percent, the tech-heavy Nasdaq lost half a percent and the S&P 500 slipped 0.3 percent.
European stocks also edged lower on Wednesday after weaker-than-expected eurozone economic data rekindled concerns about a recession in the region.
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Market Analysis
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.