India's BSE index is up 0.82 percent, while the broader NSE index is 0.86 percent higher, recovering after three sessions of falls.
ITC Ltd shares gain 1.2 percent, while Reliance Industries is up 1.3 percent on value buying.
Indian stock markets rebounded on Wednesday after three days of sharp selloff during which the BSE Sensex shed nearly 400 points. The Nifty edged above the key 6,750 levels, rising over 50 points in early trade.
Shares of Bharti Airtel is trading higher by 1% at Rs 339 after reporting 89% year-on-year jump in consolidated net profit at Rs 962 crore for the fourth quarter ended March 31, 2014 (Q4).The stock has hit a high of Rs342 and a low of Rs336. Revenues for the quarter increased 13.5% to Rs 22,219 crore against Rs 19,582 crore in the year-ago period.
Indian stock markets shrugged Asian weakness to open higher on Tuesday, but the gains were short-lived. The Sensex fell as much as 160 points, while the Nifty dropped around 50 points to 6,711 as banking stocks witnessed a sharp selloff.
India's BSE index is down 0.4 percent, while the broader NSE index is 0.41 percent lower, retreating for a third day from record highs hit on Friday.
Sentiment weakens as foreign investors sold index futures,worth 11.70 billion Indian rupees ($193.21 million) over the previous two sessions.
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As the stock market benchmark sensex races towards its 23,000-points milestone, at least 17 business houses have attained a market cap of Rs 1 trillion or more, led by Tatas with a massive group valuation of over Rs 7 lakh crore.
Fulford India Ltd, a domestic subsidiary of Merck & Co Inc, jumped 20 percent to its maximum daily limit,after it approved a delisting offer from its parent company. Merck is offering an indicative price of 1,150 rupees per share, a 67.7 percent premium to Fulford India's Friday's close,with the floor price set at 701.71 rupees, according to the BSE filing.
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Shares in India's HCL Technologies gained 2.73 percent at pre-open trade after the company reported a better-than-expected net profit for January-March quarter on the back of increasing demand for outsourcing services.
The Indian IT services exporter beat market expectations with a 59 percent rise in consolidated net profit in the January-March quarter to 16.24 billion rupees ($269.07 million) from 10.2 billion rupees in the same period a year earlier.
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India's Titan Company shares gain 1.4 percent after Credit Suisse upgrades the stock to "outperform" from "neutral" and raises target to 310 rupees from 250 rupees on expectations gold regulatory frameworks would be dismantled in 6-12 months.
India had allowed five domestic private sector banks to import gold, in what industry officials say could be a significant step towards easing of tough curbs on the metal imposed last year.
Sensex ends 144 points lower at 22,484; IT stocks gain on Infosys outlook. Nifty ends 43 points lower at 6,733.
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The country's second-largest software services firm Infosys on Tuesday posted a 24.9 percent rise in net profit.
The company's net profit stood at Rs 2,992 crore in the fourth quarter ended March 31 as against Rs 2,875 crore in the third quarter.
U.S. stocks closed higher on Monday as Citigroup's earnings and strong retail sales gave investors reasons to buy equities despite a resurgence of geopolitical uncertainties.
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India's BSE index is down 0.6 percent, while the broader NSE index is 0.56 percent lower, retreating from record highs hit on Thursday.
Shares are being dragged down by a slide in the region as steep falls in U.S. technology and biotechnology stocks are spreading to other sectors and regions.
Since February 3, the Indian equity market has begun to climb northwards, gaining more than 12 per cent in a little more than two months. This is an eye-popping performance, given what is happening to emerging markets around the world.
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Indian shares are set to open lower on Thursday on profit taking after life-highs in the previous session.
NSE index futures traded on the Singapore Exchange drop 0.3 percent to 6,825, a 29-point premium to the underlying NSE index close on Wednesday, while the MSCI-Asia Pacific excludingJapan index gains 0.12 percent.
Realty stocks are buzzing today. NSE's CNX Realty index is trading up 1 per cent against 0.15 per cent gains in the broader index. DLF is the biggest gainer in Nifty now, trading with over 1.64 per cent gains at Rs179.50.
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Indian shares are set to open higher on Wednesday as Asianshares rise for a second consecutive day. The MSCI-Asia Pacific excluding Japan index gains 0.88 percent adding
to Tuesday's rise of 0.6 percent.
NSE index futures traded on the Singapore Exchange rise 0.24 percent to 6,786.5, a 91-point premium to the underlying NSE index close on Monday. Indian markets were closed on Tuesday for a local festival.
Overseas investors bought Indian shares worth 7.03 billion rupees ($116.98 million) on Monday,provisional exchange data shows.($1 = 60.0975 Indian Rupees).
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Shares in India's Ranbaxy Laboratories Ltd fell as much as 3.2 percent on profit-taking after Sun Pharmaceutical Industries Ltd said it will buy the company in a $3.2 billion all-share deal, creating the world's fifth-largest generic drug maker.
Ranbaxy shares had surged 32.6 percent in six consecutive sessions of gains till Friday's close.
The Indian stock market is rising, the rupee is rising and investment bankers and credit rating agencies are gung ho. If Modi comes, the rocket scientists of financial sector are predicting that the rupee should claw back to 45 to the dollar. Many others are more circumspect and saying the rupee should touch at least 57 to the dollar from current levels of a little over 61.
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Asian markets were settling for a subdued session on Friday as investors counted down the hours to the U.S. jobs report, while the euro nursed a grudge after the European Central Bank opened the door to more aggressive easing, albeit not just yet.
Sensex down 67 points or 0.30 per cent at 22,442; Nifty down 20 points at 6,716. Banking stocks are down sharply, but energy stocks are the biggest losers in early trade
.
Gail down 2.1 per cent, ONCG down 1.8 per cent. IDFC continues to see profit taking, down 1.8 per cent today. Gainers include IT and pharma stocks, both of which are up tracking losses in the rupee.
Wipro, HCL Tech, Sun Pharma, Lupin and TCS are the top five gainers on the Nifty.
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Shares in India's IDFC Ltd surged 8.7 percent at pre-open trading after India's central bank on Wednesday granted preliminary licence to the infrastructure sector lender to set up a new bank.
The approval of licences for IDFC Ltd and Bandhan Financial Services marks the start of a cautious experiment for a sector dominated by lethargic state lenders, many of which are reluctant to expand into rural areas or towns where banking penetration is low.
No new Indian bank has been formed since Yes Bank in 2004.
Other companies hopeful of bank licence slumped: LIC Housing Finance fell 6.7 percent while L&T Finance Holdings lost 9.2 percent.
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Indian shares hit a record high for an eighth consecutive session as potential bank licence candidates such as IDFC Ltd surge after an election panel allowed the central bank to announce new bank licences before the outcome of general elections set to conclude next month.
The BSE index is up 0.32 percent after earlier rising as much as 0.65 percent to an all-time high of 22,592.10, while the NSE index gains 0.3 percent after earlier gaining0.63 percent to a record high of 6,763.50.
Axis Bank has crossed its maximum FII investment limit. FII investment limit in Axis bank has crossed the 49 per cent cap. Axis Bank is trading with a loss of 1.8 per cent at Rs.s. 1442.
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