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Domestic equity benchmarks Sensex and Nifty snapped a four-session losing streak to close higher on Wednesday, aided by value buying in beaten-down stocks. Market recovered from early volatility and profit booking to rebound sharply from intraday lows, with the Nifty settling above the 23,400 mark. Gains were led by metal, consumer durable and energy shares, while IT and auto stocks remained under pressure. However, overall sentiment stayed cautious amid elevated crude oil prices, persistent foreign institutional investor outflows, rupee weakness and lingering global inflation concerns. The Indian rupee also touched a fresh intraday record low of 95.80 against the US dollar. The S&P BSE Sensex advanced 49.74 points or 0.07% to 74,608.98. The Nifty 50 index added 33.05 points or 0.14% to 23,412.60. In the past four consecutive trading sessions, the Sensex declined 4.43%, while the Nifty 50 fell 3.96%. Tata Steel (up 3.63%), Bharti Airtel (up 1.78%) and Larsen & Toubro (up 1.56%) boosted the indices today. The broader market outperformed the frontline indices. The BSE 150 MidCap Index climbed 0.71% and the BSE 250 SmallCap Index rose 0.27%. The market breadth was positive. On the BSE, 2,407 shares rose and 1,793 shares fell. A total of 177 shares were unchanged. Numbers to Track: In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 95.7175 compared with its close of 95.6800 during the previous trading session. The yield on India's 10-year benchmark federal paper shed 0.01% to 7.046 compared with the previous session close of 7.047. MCX Gold futures for the 5 June 2026 settlement jumped 5.91% to Rs 162,512. The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.18% to 98.360. The United States 10-year bond yield lost 0.13% to 4.459. In the commodities market, Brent crude for July 2026 settlement gained 23 cents or 0.21% to $108 a barrel. Global Markets: US Dow Jones futures were down around 130 points, indicating a weak opening for Wall Street later in the day. Most European market traded higher on Wednesday, recovering from the previous session's losses, while UK gilt yields eased after Prime Minister Keir Starmer resisted calls to step down. Investor sentiment, however, remained cautious after US annual inflation accelerated to 3.8% in April 2026 from 3.3% in March, exceeding market expectations of 3.7% and marking the highest level since May 2023. The increase was primarily driven by a sharp rise in energy prices amid the Iran conflict, with energy costs surging 17.9% year-on-year. Meanwhile, Eurozone industrial production rose 0.2% month-on-month in March 2026, supported by increased output of intermediate goods, capital goods and durable consumer goods. However, the reading missed market estimates, while annual industrial production in the bloc declined 2.1%, highlighting continued weakness in the manufacturing sector. Asian market ended higher as investors assessed the hotter-than-expected US inflation data alongside concerns over elevated oil prices and the ongoing Middle East conflict. US President Donald Trump on Monday described the month-old ceasefire between the US and Iran as 'unbelievably weak' and 'on massive life support' after rejecting what he called an 'unacceptable' counterproposal from Tehran aimed at ending the conflict. US Defense Secretary Pete Hegseth said Trump does not require congressional approval to resume strikes on Iran, after the administration crossed the 60-day threshold under the federal War Powers law for authorisation of military action. Investors are also closely tracking developments related to the proposed meeting between Trump and Chinese President Xi Jinping, where trade-related issues are expected to be discussed. Overnight on Wall Street, the S&P 500 edged lower on Tuesday, weighed down by losses in technology shares and rising oil prices following the stronger-than-expected inflation reading. The S&P 500 slipped 0.16% to close at 7,400.96, while the Nasdaq Composite fell 0.71% to 26,088.20. The Dow Jones Industrial Average rose 56.09 points, or 0.11%, to end at 49,760.56. Stocks in Spotlight: Larsen & Toubro (L&T) rose 1.56% after the company said that its Power Transmission & Distribution (PT&D) business has secured significant EPC orders in the Middle East for setting up extra-high voltage substations. According to L&T's internal classification, the value of this 'significant' contract lies between Rs 1,000 crore to Rs 2,500 crore. MTAR Technologies jumped 7.98% after the company's consolidated profit after tax stood at Rs 44.3 crore in Q4 FY26, up 223.4% from Rs 13.7 crore in Q4 FY25 and rose 27.7% from Rs 34.7 crore in Q3 FY26. Revenue from operations increased 67.2% YoY to Rs 306.1 crore in Q4 FY26 from Rs 183.1 crore in the corresponding quarter last year. Revenue rose 10.1% sequentially from Rs 278 crore in Q3 FY26. Cipla rose 2.97%. The company's consolidated net profit stood at Rs 554.64 crore in Q4 FY26, down 54.61% from Rs 1,221.84 crore in Q4 FY25 and fell 17.93% from Rs 675.80 crore in Q3 FY26. Revenue from operations declined 2.02% YoY to Rs 6,464.26 crore in Q4 FY26 from Rs 6,597.72 crore in the year-ago period. Revenue fell 7.16% sequentially from Rs 6,962.97 crore in Q3 FY26. Berger Paints India surged 4.96% after the company reported a 27.75% year-on-year rise in consolidated net profit to Rs 334.77 crore for Q4 FY26, compared with Rs 262.05 crore in the corresponding quarter last year. Revenue from operations increased 6.06% YoY to Rs 2,868.03 crore in the quarter ended 31 March 2026. Texmaco Rail & Engineering surged 13.88% after the company reported a 45.03% year-on-year increase in consolidated net profit to Rs 57.68 crore in Q4 FY26, compared with Rs 39.77 crore in the corresponding quarter last year. Revenue from operations, however, declined 13.32% YoY to Rs 1,166.97 crore in the quarter ended 31 March 2026. Hindustan Petroleum Corporation (HPCL) added 5.55% after its standalone net profit jumped 46.09% to Rs 4,901.50 crore in Q4 FY26 as against Rs 3,354.98 crore in Q4 FY25. The company's total income (excluding excise duty) rose 4.97% YoY to Rs 1,15,782.23 crore during the March 2026 quarter. Foseco India surged 13.50% after the company's consolidated profit after tax stood at Rs 33.81 crore in Q1 FY26, up 56.02% from Rs 21.67 crore in Q1 FY25 and surged 168.33% from Rs 12.60 crore in Q4 FY25. Revenue from operations increased 35.94% YoY to Rs 201.88 crore in Q1 FY26 from Rs 148.51 crore in the corresponding quarter last year. Revenue rose 6.85% sequentially from Rs 188.94 crore in Q4 FY25. Sai Silks (Kalamandir) surged 6.18% after the company's consolidated profit after tax stood at Rs 32.65 crore in Q4 FY26, up 141.67% from Rs 13.51 crore in Q4 FY25. However, profit declined 14.39% sequentially from Rs 38.14 crore in Q3 FY26. Revenue from operations increased 5.07% YoY to Rs 419.06 crore in Q4 FY26 from Rs 398.84 crore in the corresponding quarter last year. Revenue rose 1.90% sequentially from Rs 411.25 crore in Q3 FY26. Tata Power Company fell 3.36% after the company's consolidated net profit fell 4.50% to Rs 995.91 crore on 12.84% fall in revenue from operations to Rs 14,900.20 crore in Q4 FY26 over Q4 FY25. Kross surged 1.31% after the company's standalone net profit jumped 30.98% to Rs 22.45 crore on 21.89% increase in revenue from operations to Rs 225.44 crore in Q4 FY26 over Q4 FY25. SKF India (Industrial) jumped 2.88%. The company reported a 1.92% decline in consolidated net profit to Rs 118.97 crore in Q4 FY26, compared with Rs 121.30 crore posted in Q4 FY25. However, revenue from operations jumped 31.23% year-on-year to Rs 945.72 crore for the quarter ended 31 March 2026. Kamat Hotels (India) fell 3.01%. The company reported 58.92% jump in consolidated net profit of Rs 17.45 crore in Q4 FY26, compared with Rs 10.98 crore recorded in Q4 FY25. Revenue from operations rose 19.20% to Rs 110.11 crore in Q4 FY26 over Rs 92.37 crore in Q4 FY25. Jaro Institute of Technology Management and Research soared 17.85% after the company's standalone net profit jumped 17.33% to Rs 21.33 crore in Q4 FY26 comapred with Rs 18.18 crore posted in Q4 FY25. However, revenue from operations declined 1.81% YoY to Rs 72.78 crore in Q4 FY26. Powered by Capital Market - Live News
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