Market edges lower in early trade

Key benchmark indices edged lower in early trade amid geopolitical tensions as US fired dozens of cruise missiles into Syria. At 9:17 IST, the barometer index, the S&P BSE Sensex, was down 119.83 points or 0.4% at 29,807.51. The Nifty 50 index was down 43.15 points or 0.47% at 9,218.80.

The BSE Mid-Cap index declined 0.17%. The BSE Small-Cap index fell 0.2%. The decline in both the indices was lower than the Sensex's decline in percentage terms.

Overseas, Asian stocks edged lower after the US fired dozens of cruise missiles into Syria. The missile strikes happened as President Donald Trump hosts Chinese President Xi Jinping at his Mar-a-Lago resort in Florida.

US equities closed well off session highs yesterday, 6 April 2017, after Trump said he's willing to act alone on North Korea if China does not step up.

Closer home, the breadth, indicating the overall health of the market, was negative. On the BSE, 753 shares declined and 610 shares rose. A total of 67 shares were unchanged.

Reliance Industries (RIL) declined 1.11% at Rs 1,422.40 after the company said that the Telecom Regulatory Authority of India (TRAI) has advised its telecom unit Reliance Jio Infocomm (Jio) to withdraw the 3 months complementary benefits of Jio Summer Surprise. Jio accepted this decision. It is in the process of fully complying with the regulator's advice, and will be withdrawing the 3 months complimentary benefits of Jio Summer Surprise as soon as operationally feasible, over the next few days.

However, all customers who have subscribed to Jio Summer Surprise offer prior to its discontinuation will remain eligible for the offer, RIL said. The announcement was made after market hours yesterday, 6 April 2017.

Indiabulls Housing Finance (IBHFL) was down 0.98%. The company announced that it has allotted its fifteenth tranche of secured, redeemable, non-convertible debentures (NCDs) aggregating to Rs 1000 crore on a private placement basis.

This allotment was part of an earlier announcement from the company in November 2016 wherein it has proposed to issue NCDs aggregating Rs 6000 crore, on a private placement basis. The announcement was made after market hours yesterday, 6 April 2017.

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