Indian shares rose for a third consecutive session, led by heavyweight Reliance Industries after the energy giant beat forecasts with a 24 percent jump in third-quarter net profit, helped by expansion in petrochemicals and record earnings in the refining businesses. Shares of the company hit a 52-week high of Rs.955 early in the session before paring gains and ending up 2.2 percent at Rs.919.90 on the NSE.
Also, underlying sentiment remained slightly positive after global ratings agency Moody's reaffirmed India's sovereign rating at 'Baa3' and the outlook as 'stable' for the time being, citing potential for growth, robust domestic savings and a dynamic private sector.
The benchmark BSE Sensex ended the session up 63 points or 0.31 percent at 20,102, while the broader Nifty index rose by 18 points or 0.3 percent to 6,082. Capital goods, oil/gas and FMCG stocks rose sharply, while high-beta realty stocks bore the brunt of the selling.
Among the prominent gainers in the Nifty pack, JP Associates, BPCL, Gail, HCL Technologies, Dr Reddy's Laboratories, Larsen & Toubro, BHEL, Bharti Airtel and Reliance Infrastructure rose 1-4 percent.
Hindustan Unilever rose 0.7 percent ahead of its quarterly results tomorrow. ONGC edged up 0.1 percent on reports its overseas arm, ONGC Videsh, has discovered oil on an onland block in Colombia. ITC rose 1.3 percent, extending Friday's gains on reporting strong Q3 earnings.
Maruti Suzuki, India's largest car maker, rose 1.3 percent, while Tata Motors retreated 1.4 percent. Mahindra & Mahindra edged down half a percent after the Business Standard reported that the government is considering imposing a higher excise duty or a surcharge on diesel sports utility vehicles in the upcoming budget.
Tecpro Systems advanced 3.2 percent on winning an order worth Rs.140 crore from the West Bengal Power Development Corporation. Aurobindo Pharma added 1.8 percent as it won the U.S. FDA approval to manufacture and market Oxacillin Injection in the United States. Mastek rose a percent on posting a better-than-expected 17 percent rise in quarterly profit.
SpiceJet jumped 5 percent after the low-cost carrier swung to a profit of Rs. 102 crore in the quarter ended December versus a Rs.39-crore loss in the corresponding period last year. Rival Kingfisher Airlines tumbled 4.6 percent amid reports former pilots have sent a legal notice to the management seeking compensation for mental harassment and salary dues.
UltraTech Cement rose 0.7 percent after reporting quarterly earnings and rival Ambuja Cement edged up 0.2 percent, but ACC lost 0.8 percent. NTPC fell 1.3 percent despite posting a 22 percent jump in quarterly net profit.
State Bank of India edged up marginally on receiving board approval for infusion of capital into the bank by the government through a preferential issue. Private sector lender ICICI Bank rose 0.3 percent, while HDFC Bank fell a percent. HDFC fell 1.7 percent after the mortgage lender reported a 16 percent rise in quarterly net profit, missing estimates.
Asian stocks turned in a mixed performance, with Japanese shares bearing the brunt of the selling as investors adopted a cautious stance ahead of the Bank of Japan's policy-setting meeting. The central bank is widely expected to unveil fresh measures to stimulate the economy, including the adoption of a two percent inflation goal advocated by Prime Minister Shinzo Abe and an additional Y10 trillion in asset purchases.
Apprehensions among investors over the progress of U.S. debt ceiling talks and caution ahead of a slew of earnings reports from tech heavyweights such as Apple, Google, IBM, and Microsoft due this week also kept investors at bay.
European stocks were mostly higher in early trading ahead of this year's first meeting of European finance ministers in Brussels today, where policymakers will begin talks on how to channel firewall funds directly to banks.
Meanwhile, the German ruling coalition was defeated in a key election in a major state election Sunday, suggesting it could become difficult for Angela Merkel to win a third term in the elections expected in September 2013.
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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.