Indian shares started on a flat note on Wednesday, mirroring losses in Asian markets as investor appetite for equities ebbed over renewed concerns of a slowdown in the US economy and trade war with China. The continued turmoil in Hong Kong, the UK and Italy also weighed on trade sentiment. At home, the delay from the Modi government in announcing measures to prop up growth kept investors wary.

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NSE

The Sensex slipped almost 5 points to 37,323, while the Nifty was trading at 11,011, down by nearly 6 points in the initial trade. The Nifty MidCap index dipped 0.20 percent, while the banking gauge, Nifty Bank was marginally lower by 0.11 percent.

Metal, FMCG and energy sectoral indices declined, while IT and auto gained slightly.

Biocon, Alembic Pharma, Sun Pharma, Maruti Suzuki, Infosys, TCS, NTPC, Power Grid, Bajaj Auto and Hero MotoCorp were among the major gainers, while losers include Britannia, Yes Bank, Hindalco, Tata Motors, Vedanta, SPARC and Asian Paints.

Auto shares gained in early trade after lenders, particularly state-run banks, unveiled measures for speedy disbursal of loans at attractive interest schemes.

Meanwhile, the rupee

recovered some lost ground and opened higher against the US dollar on Wednesday, a day after it closed at a fresh 6-month low, on the back of short-covering.

The home currency opened at 71.48 from its Tuesday's close of 71.71. On Tuesday, the rupee fell 28 paise to close at a new six-month low of 71.71 against the US dollar as economic uncertainties continued to weigh on investor sentiment.

Foreign institutional investors (FIIs) bought equities worth Rs 373.23 crore on Tuesday, according to provisional exchange data.

In debt markets, the yields on the 10-year government bonds were up 0.08 percent to 6.59 percent from the previous close of 6.59 percent. Bond yields and prices move in opposite directions.

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