At 11:30 IST, the barometer index, the S&P BSE Sensex, advanced 28.18 points or 0.04% to 74,587.42. The Nifty 50 index rose 29.15 points or 0.12% to 23,410.65.

The broader market outperformed the frontline indices. The BSE 150 Midcap Index jumped 0.68% and the BSE 250 Small Cap Index added 0.66%.

The market breadth was positive. On the BSE, 2,251 shares rose and 1,612 shares fell. A total of 208 shares were unchanged.

Economy:

India's retail inflation, based on the All India Consumer Price Index (CPI) with base year 2024, rose to 3.48% in April 2026 from 3.40% in March. Rural inflation stood at 3.74%, while urban inflation came in at 3.16%.

Food inflation, measured by the Consumer Food Price Index (CFPI), accelerated to 4.20% in April, with rural and urban food inflation at 4.26% and 4.10%, respectively. Meanwhile, housing inflation stood at 2.15% during the month, with rural housing inflation at 2.65% and urban housing inflation at 1.96%.

Among key vegetables, potato and onion prices declined 23.70% and 11.70% year-on-year, respectively, while tomato prices surged 35% compared with the year-ago period.

Buzzing Index:

The Nifty Oil & Gas index rose 0.45% to 11,343.55. The index fell 3.68% in the past four trading sessions.

Chennai Petroleum Corporation (up 2.71%), Oil India (up 2.08%), Bharat Petroleum Corporation (up 1.56%), Adani Total Gas (up 1.3%), Indian Oil Corporation (up 1.26%), Hindustan Petroleum Corporation (up 1.16%), Oil & Natural Gas Corpn (up 1.15%), Indraprastha Gas (up 0.6%), GAIL (India) (up 0.21%) and Castrol India (up 0.03%) rose.

Stocks in Spotlight:

Berger Paints India surged 5.69% 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.

Jaro Institute of Technology Management and Research soared 8.02% after the company's consolidated 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.

SKF India (Industrial) rose 0.3%. 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.

Global Markets:

Asian markets traded mixed on Wednesday, as investors digested a hotter-than-expected inflation reading for April amid concerns over higher oil prices and the ongoing Middle East conflict.

President Donald Trump on Monday said the month-old ceasefire between the U.S. and Iran was unbelievably weak and on massive life support' after rejecting an unacceptable' counterproposal from Tehran to end the conflict.

Defense Secretary Pete Hegseth said Trump doesn't need congressional approval to restart strikes on Iran. The comment comes after the administration passed the 60-day mark required by federal war powers law to receive authorization for military force.

Meanwhile, investors will also be focusing on developments related to the upcoming meeting between Trump and Chinese President Xi Jinping, where trade is expected to be discussed.

Overnight on Wall Street, the S&P 500 slipped on Tuesday, weighed down by losses in technology stocks and higher oil prices as traders reacted to a hotter-than-expected annual consumer price index reading for April.

The broad market index was 0.16% lower, closing at 7,400.96, and the Nasdaq Composite dropped 0.71% to 26,088.20. The Dow Jones Industrial Average advanced 56.09 points, or 0.11%, and ended at 49,760.56.

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