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Telecom shares decline

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Key benchmarks were hovering near flat line in early afternoon trade. At 12:22 IST, the barometer index, the Sensex, was up 23.46 points or 0.06% at 37,436.59. The index was up 2.20 points or 0.02% at 11,289.70.

Among secondary barometers, the Mid-Cap index was down 0.69%. The Small-Cap index was down 0.99%. Both these indices underperformed the Sensex.

The market breadth, indicating the overall health of the market, was weak. On BSE, 801 shares rose and 1599 shares fell. A total of 117 shares were unchanged.

Telecom shares declined. MTNL (down 3.1%), (down 1.65%), (down 0.78%), (Maharashtra) (down 0.32%) and (down 0.21%), edged lower.

Telecom tower infrastructure provider was down 2.1%.

shares were mixed. ACC (down 0.02%) and (down 0.46%), edged lower. was up 0.55%.

was up 0.89%. Grasim has exposure to sector through its holding in

Overseas, Asian stocks fell on Wednesday, as investor confidence was chilled by the latest round of verbal threats in an intensifying US-trade conflict. will seek permission from the (WTO) to impose sanctions on the US next week, according to the WTO's meeting agenda. will seek authorization at a special meeting of the WTO's Dispute Settlement Body on Friday, 21 September 2018.

The request comes at a time of escalating trade tensions between the world's two largest economies, with US saying last week he was "ready to go" on tariffs for another $267 billion on Chinese goods "if he wants." That would follow planned charges on $200 billion of Chinese goods in several industries, including technology. has vowed to retaliate if the US takes any new steps on trade.

US stocks shrugged off a wobbly start to close higher Tuesday, with the Dow climbing by triple digits, as and rallied. However, trade worries were simmering below the surface as investors continued to watch the situation between the US and China.

On the data front, small-business sentiment climbed to a record in August, according to the Separately, the number of job openings in the US climbed to a record 6.94 million in July while the US budget deficit in August was $211 billion, nearly double the gap during the year-ago period.

Meanwhile, the US budget deficit in August was $211 billion, nearly double the gap during the year-ago month, the estimated late Monday.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, September 12 2018. 12:21 IST