Market slightly lower in early trade

Key benchmark indices were trading with small losses in early trade. At 9:22 IST, the barometer index, the S&P BSE Sensex, was down 22.78 points or 0.07% at 33,812.96. The Nifty 50 index was down 11.10 points or 0.11% at 10,399.80.

The S&P BSE Mid-Cap index was up 0.48%. The S&P BSE Small-Cap index was up 0.25%. Both these indices outperformed the Sensex.

The market breadth, indicating the overall health of the market, was positive. On the BSE, 904 shares rose and 509 shares fell. A total of 50 shares were unchanged.

Overseas, Asian markets were trading lower after the decline on Wall Street overnight as fears of a potential trade war resurfaced after President Donald Trump announced that his administration will seek to trim the US's trade deficit with China by $100 billion via tariffs.

US stocks fell yesterday, 14 March 2018 after lackluster retail sales figures fanned concern that consumer spending is cooling.

In economic data, the producer-price index showed wholesale inflation up 0.2% in February, down from the 0.4% advance in January. US retail sales fell 0.1% in February, the third straight monthly decline. However, sales grew 0.3% if autos and gas are stripped out.

Back home, Hero MotoCorp (up 1.11%), Bajaj Auto (up 0.58%) and L&T (up 0.43%) edged higher from the Sensex pack.

Wipro gained 2.03% after the company announced a strategic partnership with Trintech to deliver digital solutions that help simplify and automate business finance functions at enterprises. Trintech is a leading global provider of integrated, cloud-based Record to Report (R2R) finance software solutions for the office of finance. The announcement was made after market hours yesterday, 14 March 2018.

IT major Infosys fell 0.53%. Infosys announced that it will open its next technology and innovation hub in Hartford, Connecticut and hire 1,000 American workers in the state by 2022. The Connecticut Technology and Innovation Hub will have a special focus on insurance, healthcare and manufacturing. It will bring Infosys closer to its Connecticut clients and serve as the global hub for Infosys' InsurTech and HealthTech efforts. The announcement was made after market hours yesterday, 14 March 2018.

Infosys' investment in Connecticut is a continuation of the company's commitment to accelerate innovation for American enterprise by amplifying top local talent with the best global talent and shrink the IT skills gap in the marketplace.

ICICI Bank shed 0.36%. ICICI Bank informed that the IPO of its subsidiary, ICICI Securities, will open for subscription on 22 March 2018 and shall close on 26 March 2018. The price band for the IPO has been fixed at Rs 519 to Rs 520 per share. The announcement was made after market hours yesterday, 14 March 2018.

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