BSE Sensex traded lower by around 100 points, while the Nifty 50 trades near 10,200. Here are the latest updates from the markets

Benchmark indices declined on Wednesday, following losses in Asian and US stocks and as PNB fraud investigation widened. Asian shares fell as global trade war concerns intensified after the resignation of White House economic adviser Gary Cohn, reports Bloomberg. Moreover, senior executives of ICICI Bank and Axis Bank appeared before SFIO as investigative agencies expanded their probe into the alleged bank fraud by companies linked to Nirav Modi and his uncle Mehul Choksi. Here are the latest updates from the markets:

10.23 am IST
Market update
BSE Sensex traded lower by 22.89 points, or 0.07%, to 33,294.31, while the Nifty 50 declined 23.40 points, or 0.23%, to 10,225.85. BSE MidCap and SmallCap were down 0.25% and 0.61%, respectively. Among the sectoral indices on BSE, IT was up 0.67%, teck 0.57% and FMCG 0.44%, whereas metal fell 0.85%, realty 0.72% and bankex 0.59%. The Nifty PSU Bank was down 1.34%.

10.20 am IST
IT stocks trade higher
IT stocks trades higher. Mindtree rose 2.6%, Hexaware rose 2.1%, HCL Technology Ltd 2%, NIIT Tech 1.6%, Tech Mahindra Ltd 1.4%, Wipro Ltd 1.2%, Tata Consultancy Services Ltd 0.9%, Infosys Ltd 0.8%.

10.17 am IST
Harrisons Malayalam shares rise on block deal
Harrisons Malayalam Ltd shares rose 5% to Rs83 after huge block deal. Around 1.3 million share or 7% stake of the company changed hands in a block deal. Details of the buyers and sellers were not known.

9.43 am IST
Adani group stocks trade lower
Adani group stocks extended its fall after BJP MP Subramanian Swamy on Tuesday called industrialist Gautam Adani the “biggest NPA (non-performing asset) trapeze artiste in PSUs”. Adani Ports fell 2.2%, Adani Enterprises Ltd 2.6%, Adani Power Ltd 3.2% and Adani Transmission Ltd was down 1.4%.

9.40 am IST
Banking stocks fall further as PNB fraud probe widens
Banking stocks extended its fall after Senior executives of private sector lenders ICICI Bank Ltd and Axis Bank Ltd appeared before the Serious Fraud Investigation Office (SFIO) on Tuesday as investigative agencies expanded their probe into the alleged bank fraud by companies linked to Nirav Modi and his uncle Mehul Choksi. ICICI Bank Ltd fell 1.6%, Punjab National Bank 1.6%, State Bank of India 1.2%, Bank of Baroda 1.2%, Federal Bank 1%, Yes Bank 1%, IndusInd Bank 0.7%, Axis Bank 0.6%.

source: livemint.com