Overseas, Asian stocks were trading lower after a dovish turn by the European Central Bank and milder than expected US inflation.
In US, technology stocks led Wall Street slightly higher on Wednesday, as US inflation data proved to be benign and the minutes from the Federal Reserve's March meeting were unsurprising.
The Federal Reserve is likely to leave interest rates unchanged this year given risks to the US economy from a global slowdown and uncertainty over trade policies and financial conditions, according to the minutes from its March 19-20 policy meeting.
Back home,key equity indices witnessed steep decline on Wednesday after the International Monetary Fund (IMF) lowered global economic growth outlook. Investors were also cautious ahead of Q4 March 2019 earnings beginning later this week. The Sensex fell 353.87 points or 0.91% to settle at 38,585.35. The Nifty 50 index fell 87.65 points or 0.75% to settle at 11,584.30.
The trading activity on that day showed that the foreign portfolio investors (FPIs) bought shares worth a net Rs 1,429.92 crore yesterday, 10 April 2019, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 461.29 crore yesterday, 10 April 2019, as per provisional data.
Among corporate news,Wipro announced that its board will consider a proposal for buyback of equity shares at its meeting scheduled on 16 April 2019. The announcement was made after market hours yesterday, 10 April 2019.
Tata Consultancy Services (TCS) announced that it has partnered with Google Cloud to build industry-specific cloud solutions that will help organizations accelerate their digital transformation and leverage data-driven insights that power superior customer experiences. The announcement was made after market hours yesterday, 10 April 2019.
Bharti Airtel said it has fixed 24 April 2019 as the record date for the purpose of determining the shareholders eligible to apply for the equity shares in the rights issue. The announcement was made after market hours yesterday, 10 April 2019.
On the political front, Lok Sabha elections will be held in seven phases from today, 11 April 2019 to 19 May 2019 and counting will take place on 23 May 2019. However, elections for the Jammu and Kashmir Assembly, will not be held along with the Lok Sabha polls due to security reasons.
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