The Indian market is moving sideways in early trading on Monday, tracking lackluster global cues. Consumer durables, public sector, auto and IT stocks are posting modest gains, while FMCG and banking stocks are coming under selling pressure.
Among heavyweights, Mahindra & Mahindra, Jindal Steel, ONGC, Tata Power, Cipla Bharti Airtel, Reliance Communication, TCS and BHEL are the top gainers. However, Jaiprakash Associates is losing 1.66%, ITC is down 1.44%, Hindalco is declining 1.07% and HDFC Bank is down around a percent. Reliance Industries, ICICI Bank, Reliance Infrastructure, DLF, HDFC and SBI are also trading in the red.
Trading in a narrow range, the 30-share BSE Sensex is currently at 18,423, up 21 points or 0.11%, while the 50-share Nifty is unchanged with a positive bias. The BSE mid-cap and small-cap indexes are up 0.5% and 0.76%, respectively. In the broader market, gaining shares are outpacing declining ones by 1559 to 736 shares.
Tractors & utility vehicles manufacturer Mahindra & Mahindra is rising 1.56% after it signed a preliminary agreement to buy a controlling stake in bankrupt South Korean carmaker Ssangyong Motor. State-run telephone equipment maker ITI is climbing almost 8% on stake sale reports.
Jindal Steel & Power is up a little over 2% after the Bolivian government provided to its subsidiary an additional 3,000 ares of land to resume work on a steel and iron ore project. Tata Steel is adding 0.77% on reports it is investing Rs 1000 cr in Orissa. Tata Motors, which is reportedly planning a $750 million DVR issue, is edging up 0.62%.
Genesys International Corporation is down 0.23% after its board approved a scheme of amalgamation with its unit Genesys Worldeye. Vardhman Textiles is up around 2% after it decided to raise up to Rs 200 crore via a qualified institutional placement.
State Bank of Mysore is rallying 6.22% after it convened a board meet on August 25 to decide terms of a rights issue. Indian Overseas Bank is declining 0.59% after it raised its benchmark prime lending rate by 50 basis points to 12.50%.
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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.