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Indian shares rise marginally ahead of earnings, macro data

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Indian shares rose on Wednesday as March-quarter corporate earnings trickled in, while caution ahead of key domestic and global macroeconomic data capped gains.

has risen over 4.5% in the past seven sessions, its longest winning streak in more than four months.

"Expect equity markets to stay muted in the near term despite the surprise pause by the Reserve Bank of India and market valuations becoming more reasonable," analysts at Kotak Institutional Equities wrote in a note. "Growth prospects remain weak, inflation faces upside risks and risks of earnings downgrades exist," they added.

Investors also await consumer inflation and industrial production data, due to be released after market hours on Wednesday. India's consumer inflation likely eased in March to 5.80%, dipping below the RBI's upper tolerance limit for the first time in 2023, according to a ReutersWall Street equities were mostly higher ahead of consumer price index data for March and minutes of the Fed's latest policy meeting due on Wednesday. Asian markets remained subdued.jumped over 6% after posting 15% year-on-year growth in sales of own brands in the fourth quarter at 1.04 billion rupees.

 

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