Staff of Reuters Read for 2 minutes On December 11, 2018, a broker reacts while trading at his computer station at a stock brokerage firm in Mumbai, India. FILES/Francis Mascarenhas/REUTERS (Reuters) – BENGALURU (Reuters) – In tumultuous trading on Wednesday, Indian stocks crept up as financials helped offset a drop in auto companies, while investors digested some corporate reports and awaited news of a cabinet reshuffle. The blue-chip NSE Nifty 50 index rose 0.19 percent to 15,847.85 at 0404 GMT, while the benchmark S&P BSE Sensex rose 0.26 percent to 52,998.78. As of 0415 GMT, the Nifty Bank index was up 0.32 percent. According to media sources, Prime Minister Narendra Modi’s government was planning to announce a change of the union cabinet, which would include an expansion of the council of ministers. While experts have raised concerns about an impending third wave of COVID-19, with the country’s health officials expressing alarm about images of visitors flocking to hill stations at a news conference on Tuesday, certain first-quarter earnings have shown promise. Titan Co’s jewelry sales, excluding bullion, increased by about 107 percent, according to the business. Tata Consultancy Services, which is slated to disclose earnings on Thursday, is expected to deliver solid results. Sobha Ltd, a real estate company, climbed 8% after reporting a higher total sales value for the first quarter. Normalcy is expected to be restored by the second half of FY2021-22, according to the building business. Globally, Asian stocks fell as risk aversion supported Treasuries and the dollar, while investors awaited minutes from the Federal Reserve’s most recent meeting, which are expected to show a hawkish shift in monetary policy. However, after the second wave of COVID-19, India’s foreign minister predicted that the country will experience a substantial economic rebound. Shivani Singh contributed reporting from Bengaluru, and Uttaresh.V. edited the piece./n
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