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Key barometers ended lower, snapping three straight days of gains, as negative global cues triggered profit booking. Global shares declined as worries over US-China trade war flared up, curbing risk appetite. Selling in banks shares weighed on the domestic bourses. Investors awaited outcome of key domestic economic data. Inflation based on consumer price index (CPI) for May and industrial production (IIP) data for April will release today, 12 June 2019. Nifty was down 59.40 points at 11,906.20.

Global Markets

Saudi Arabian Airlines is close to placing a multi-billion-dollar order for aircraft at least partly involving Airbus jets. European shares pulled back from three-week highs on Wednesday as this month’s recovery rally ran out of steam on the back of soft Chinese factory activity data and the latest signs of friction between Washington and Beijing on trade.

Stock Snippets

ThyssenKrupp AG and Tata Steel’s collapsed joint venture was formally blocked by the European Union, the sixth deal vetoed by antitrust chief Margrethe Vestager.

ITC to invest Rs20,000cr in India, FMCG, Paper and Backend Operations.

Reliance Industries and BP sanctioned the third phase of integrated KG-D6 development.

Yes Bank’s Mukesh Sabharwal resigned from the post of non-executive director w.e.f from June 10, citing pursuits in academia.

Reliance Capital and Reliance Home Finance will be in focus as Price Waterhouse & Co resigned as the statutory auditor.

 Shares of Welspun Enterprises rose 3 percent intraday on Wednesday after receiving bonus from NHAI for early completion of a project.

 Shares of Dewan Housing Finance Corporation rallied 6.6 percent after the company paid Rs 961 crore interest on NCDs.

Global Markets

Japan stocks were lower after the close on Wednesday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower. The Nikkei 225 fell 0.30%

China’s Shanghai Composite and the Shenzhen Component fell 0.6% and 0.4% respectively.

Australia stocks were lower after the close on Wednesday, as losses in the Healthcare, Financials and A-REITs sectors led shares lower. The S&P/ASX 200 declined 0.04%.

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