Crude Update: Oil prices fell on Wednesday, weighed down by a weaker oil demand outlook and a rise in U.S. crude inventories despite growing expectations of ongoing OPEC-led supply cuts.
EC prohibits proposed JV: The European Commission formally announced its decision to prohibit the proposed European steel joint venture between Tata Steel and thyssenkrupp AG.
Market Opens: It is weak start for the Indian indices on June 12 with Nifty below 11,950 level
At 09:16 hrs IST, the Sensex is down 141.89 points at 39808.57, while Nifty is down 45.10 points at 11,920.50. About 230 shares have advanced, 430 shares declined, and 30 shares are unchanged.
Yes Bank, SBI, Indiabulls Housing, ONGC, Zee Entertainment, Bharti Airtel and Infosys are among major losers on the indices in the early trade, while gainers are DHFL, JSW Steel, Tata Steel, Sterlite Tech, Motherson Sumi, ITC and Asian Paints.
Among the sectors, except metal and energy all other indices are trading lower led by IT, pharma, auto, bank and infra.
Rupee Opens: The Indian rupee opened flat at 69.45 per dollar on Wednesday against previous close 69.44.
Market Pre-open: It is mixed start for the Indian indices in the pre-opening session.
At 09:01 hrs IST, the Sensex is up 40.91 points or 0.10% at 39991.37, and the Nifty down 4.80 points or 0.04% at 11960.80.
Asian markets trade mixed: Asian share markets got off to a cautious start on Wednesday as the White House took a tough line on a trade deal with China, just as investors were bracing for the latest batch of economic data from the Asian giant.
SGX Nifty: Trends on SGX Nifty indicate a negative opening for the broader indices in India, a fall of 17.50 points or 0.15 percent. Nifty futures were trading around 11,963.50-level on the Singaporean Exchange.
Brokerages View: Source: CNBC-TV18:
Deutsche Bank on IndusInd Bank
Buy rating, target at Rs 1,900 per share
Uncertainties reducing; valuations to improve
Deutsche Bank on Maruti
Hold rating, target cut to Rs 6,325 from Rs 6,450 per share
Market share decline could trigger further de-rating
Credit Suisse on autos
Global auto component suppliers warrant a relook after sharp correction in valuations
Motherson is trading 1x SD below 10-yr average
Varroc is at a discount to its global lighting peers
Nomura on Tata Motors
Neutral call, target at Rs 187 per share
JLR May global retail sales at 42,370 units, slightly below our estimate
Morgan Stanley on Shriram Transport
Overweight rating, target at Rs 1,350 per share
Co expects H1FY20 to see muted AUM growth
Edelweiss on AU Small Finance
Initiate coverage with buy, target at Rs 880 per share
Continue to deliver high loan growth without any asset quality incident
Dollar Update: The dollar hung near an 11-week low against its peers on Wednesday, weighed by expectations the U.S. Federal Reserve could cut interest rates some time in the next few months.
Wall Street ends marginally lower: US stocks ended near flat and the Dow snapped a six-day winning streak on Tuesday, as investors paused following a run of gains and fresh worries emerged over the US trade war with China.
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