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The market ended lower on Wednesday, amid renewed concerns over trade tension between the United States and India. The Nifty closed below the 11,500 mark for the first time since 17 May 2019. The market breadth remained in favour of bears. On the sectoral front, all but Pvt bank stocks are trading in the red. Nifty Realty is the biggest loser, down 1.71 percent. Ahead of the Indo-US trade talks on Friday, US President Donald Trump once again warned the Asian country that its high tariffs were not acceptable.

Global Markets

The South African arm of steelmaker ArcelorMittal expects to plunge to a first-half loss and cut more than 2,000 jobs as it struggles with cheap imports.European shares dipped in early trading on Wednesday ahead of U.S. Federal Reserve Chair Jerome Powell’s two-day testimony where investors will closely watch for signs of an interest-rate cut later this month.European shares index (STOXX) fell 0.2%.

Himachal Futuristic Communication shares gained more than 1 percent intraday after received purchase order from state-owned telecom operator BSNL.

Shares of basmati rice processing company KRBL fell 3.7 percent intraday after ICRA downgraded credit rating of company’s long term bank facilities.

Tata Consultancy Services said it has been recognised with an overall positive rating in the recent Vendor Ratingl report by Gartner lnc, based on a holistic evaluation.

Manpasand Beverages hit lower circuit of 5% at Rs 38.85 after Mehra Goel & Co. resigned as statutory auditors due to probe into company by GST authorities.

InterGlobe Aviation, the operator of budget airline IndiGo, fell more than 17% after differences between two promoters Rahul Bhatia and Rakesh Gangwal reached the market regulator.

BHEL and Container Corp  to form Joint Working Group to establish rail-based logistics terminal at Haridwar.

SBI cut MCLR by five basis points across all tenors.

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