The Indian market is subdued on Wednesday, as caution prevails ahead of an impending rate hike to be announced by the Reserve Bank of India tomorrow at its mid-quarter review policy meet. Also, investors await corporate advance tax payments numbers for the June quarter for cues on earnings outlook.
Elsewhere, the other Asian markets are trading mixed despite a jump on Wall Street overnight. China's Shanghai Composite is down half a percent after the nation's central bank unexpectedly raised banks' required reserve ratio again to tame inflation which is running at a 34-month high of 5.5 percent in May.
In the forex market, the euro is losing ground for the first time in three days against the dollar after European Union officials failed to reach an agreement on a second Greek rescue plan.
The benchmark 30-share Sensex is currently down 60 points or 0.31 percent at 18,252, while the broader Nifty index is falling by 15 points or 0.27 percent to 5,486. Second-line stocks are posting modest gains and the market breadth is fairly positive, with gaining shares outpacing declining ones by 1265 to 768 shares.
Among the prominent decliners, ICICI Bank, Larsen & Toubro, Jindal Steel, Hindalco, Jaiprakash Associates, Sterlite Industries, SBI and Infosys are down between half a percent and one percent.
Maruti Suzuki India is down 0.4 percent as it continues to battle talks with striking workers at its Manesar plant for the ninth day disrupting output. NTPC is losing 0.6 percent after it formed a joint venture company to set up a power exchange.
BASF India is down over 2 percent after it denied talks of delisting. Dr. Reddy's Laboratories is declining half a percent after its Mexican arm received a warning letter from the U.S. Food and Drug Administration for its chemicals manufacturing facility.
Titan Industries is losing 1.2 percent after the watch, eyewear and jewelery- maker fixed June 24 as the record date for a bonus issue and a stock split. Jet Airways is edging down 0.4 percent after the Bombay High Court admitted Sahara India's claim of Rs.2,000 crore against the airline.
On the other hand, HDFC is adding a percent after Citigroup ruled out selling any additional shares in the mortgage lender. Tata Steel is up 0.6 percent, Wipro is gaining 0.3 percent and Reliance Industries is adding 0.2 percent.
Manappuram is gaining 0.9 percent on reports that it will raise up to Rs.1,000 crore via a non-convertible debenture issue. ING Vysya Bank is rising 1.2 percent on fund raising reports. Apollo Tyres is rising marginally after the company announced its entry into the Sri Lankan market.
Mastek is climbing 11 percent after its U.K. unit signed a multi-year framework agreement for IT services with an initial minimum commitment of 8 million pounds.
BGR Energy Systems is rising 2 percent after the company surrendered its Category - I electricity trading license obtained from Central Electricity Regulatory Commission. Tata Communications is posting a modest 0.2 percent gain after raising stake in South Africa's Neotel.
The benchmark indexes Sensex and the Nifty eked out small gains on Tuesday, tracking positive global cues, despite latest data revealing that inflation surged in May.
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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.