Indian shares extended losses for a fourth day in a row on Friday after the government deferred clearing the Insurance Bill that seeks to increase the foreign direct investment limit in insurance joint ventures to 49 percent from the prevailing 26 percent. Meanwhile, investors await March industrial output data for clues on domestic growth outlook.
Asian markets are retreating across the board after financial giant JPMorgan Chase & Co said it suffered a $2 billion trading loss from a "poorly executed" and "poorly monitored" hedging strategy.
The benchmark 30-share Sensex is currently down 73 points or 0.45 percent at 16,347, while the broader Nifty index is down 26 points or 0.53 percent at 4,940. Realty, healthcare and IT stocks are bearing the brunt of the selling, while auto and banking shares are little changed.
Future Capital Holdings is down 2.2 percent on stake sale reports. Canara Bank is little changed after posting a 7.7 percent drop in quarterly net profit. Kingfisher Airlines is losing 3 percent after 72 pilots in the north India region reported "sick" demanding pending salaries.
Cipla is marginally higher after strong fourth-quarter results, while Dr Reddy's Laboratories is declining 1.7 percent ahead of its FY12 results today. Sintex Industries is tumbling 3.1 percent on reporting a 46 percent fall in quarterly profit
Coal India is down 0.9 percent after the government reportedly directed the company to supply coal to all power plants commissioned after December 2011 who do not have fuel supply agreements with the state-rum miner.
SKS Microfinance is climbing almost 15 percent after the Union Cabinet approved a bill to bring the micro finance industry under the Reserve Bank of India's oversight. Manappuram Finance is up 0.7 percent as it postponed a board meet to consider and approve the financial results for the year ended March to May 18.
Aptech is adding 1.5 percent after high net-worth investor Rakesh Jhunjhunwala bought a 2.2 percent stake in the company for about Rs 8 crore through an open market transaction. Aditya Birla Nuvo is gaining 0.7 percent after making a preferential allotment of warrants to the promoter group companies.
Jain Irrigation is rising 2 percent after reporting solid quarterly results for the fourth quarter ended March. Bank of Maharashtra is gaining half a percent after state-run insurer LIC increased its stake in the state-run lender to 10 percent.
Benchmark indexes Sensex and the Nifty reversed early gains to end down 0.4 percent and 0.2 percent, respectively on Thursday as FII outflow fears continued to haunt investors despite a series of measures announced by the Reserve Bank of India to prop up the rupee.
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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.