Nifty closes below 11,600, Sensex falls 353 points; Tata Motors gains 4%

At close, the Sensex was down 353.87 points at 38585.35, and the Nifty was down 88.40 points at 11,583.60. About 1134 shares have advanced, 1369 shares declined, and 173 shares are unchanged. 

Bharti Airtel, Asian Paints, Hindalco Industries, TCS and UPL were the top losers, while Tata Motors, Wipro, Cipla, HUL and Adani Ports were among major gainers on the Nifty.

Except auto and pharma, all other sectoral indices ended in red led by bank, metal, IT, infra, energy and FMCG. 

Buzzing: Shares of DLF toppled nearly 4 percent after the investment arm of the Singapore government sold its stake in the company worth Rs 1,300 crore through an open market transaction on April 8.

RSWM to sell stake in Bhilwara Energy: The company decided to sell 1,69,38,599 equity shares of Rs 10 each held in Bhilwara Energy an associate company of RSWM at a cash consideration of Rs 84.85 crores to HEG Limited on the basis of valuation of fair price per share on arm's length basis. 

Ratnamani Metals and Tubes gets order: The company has received new domestic orders from oil & gas sector of approximately Rs 78 crore for supply of CS Coated Pipes to be completed between July, 2019 to March, 2020 and 2 orders aggregating to approximately Rs 78 crore for supply of stainless steel tubes / pipes to be completed by October, 2019.  

Market Update: The benchmark indices are trading lower in the afternoon trade on Wednesday.

the Sensex is down 213.80 points or 0.55% at 38725.42, and the Nifty down 54.50 points or 0.47% at 11617.50. 

Buzzing: Shares of Mahindra CIEAutomotive rallied nearly 2 percent after the company completed the acquisition of Aurangabad Electricals for Rs 830 crore.

Crude Update: Oil prices edged back towards five-month highs on Wednesday, supported by ongoing supply cuts by producer club OPEC and US sanctions against oil exporters Iran and Venezuela. 

Operations at Hindalco's Muri plant suspended temporarily: There was an incident in the red mud (bauxite residue) storage

area connected to the alumina plant situated at Muri, Jharkhand, on 9th April 2019.

The incident involved a spillage in the red mud cake storage area. As a precautionary measure, operations have been temporarily suspended to assess the situation. 

Market Opens: It is a weak start for the benchmark indices on Wednesday with Nifty slipped below 11,650 level.

At 09:17 hrs IST, the Sensex is down 60.01 points at 38879.21, while Nifty is down 19.10 points at 11,652.90. About 314 shares have advanced, 431 shares declined, and 38 shares are unchanged. 

Wipro, Yes Bank, Cipla, Infosys, ONGC, RIL, HCL Tech, HUL, Tech Mahindra, Bajaj Finance are among major gainers on the indices, while losers include HDFC, HDFC Bank, Hindalco, Hero Motocorp, Grasim, UltraTech Cement and Gail, 

On the sectoral front, auto, infra, metal, pharma and infra are under pressure, while IT space is trading higher.

Market at pre-open: Benchmark indices are trading lower in the pre-opening with Nifty around 11,650 level.

At 09:03 hrs IST, the Sensex is down 96.44 points or 0.25% at 38842.78, and the Nifty down 20.70 points or 0.18% at 11651.30.

HDFC Bank, Zee Entertainment, SBI, Hindalco are trading lower in the pre-opening session.

SGX Nifty: Trends on SGX Nifty indicate a negative opening for the broader index in India, a fall 30.50 points or 0.26 percent. Nifty futures were trading around 11,719.50-level on the Singaporean Exchange.

Wall Street ends lower: Trade-sensitive industrials dragged Wall Street lower on Tuesday as tensions over tariffs between the United States and its European trading partners went from simmer to boil and the IMF lowered its global growth outlook.