Equity benchmark indices traded lower during early hours on Wednesday following losses in Asian markets after yesterday`s rout in Wall Street.

Forecasts of double-digit contraction by several global rating agencies in FY21 GDP, rising coronavirus cases and geopolitical tensions contributed to the nervousness among investors.

At 10:15 am, the BSE S&P Sensex was down by 259 points or 0.68% at 38,106 while the Nifty 50 was down by 79 points or 0.7% at 11,238.

Shares of Reliance Industries (RIL) were up 1.5 per cent to Rs 2,139 on the BSE on Wednesday after the company announced that Silver Lake will invest Rs 7,500 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of RIL. The stock was trading higher for the third straight day in an otherwise subdued market.

This investment values RRVL at a pre-money equity value of Rs 4.21 trillion. Silver Lake’s investment will translate into a 1.75 per cent equity stake in RRVL on a fully diluted basis, RIL said in a press release.

Gold prices today jumped to 54,310 from Rs 54,160 per 10 gm, while silver slid to Rs 68,000 from Rs 68,100 per kg, according to the Good Returns website.

Gold jewellery prices vary across India, the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

US President Donald Trump on Tuesday attacked the Democratic Vice President nominee Kamala Harris saying, People don't like her" and it would be "an insult to the US if she becomes the President.

It's very simple to remember--if Biden wins, China wins, it is as simple as that. You have a situation where we build the greatest economy in the history of the world and we were forced to close it because the China plague came in and now we have opened it (the economy), Trump said at a rally in North Carolina.

Russia has made it clear that it will not interfere in the ongoing India-China dispute on its own unless asked specifically to mediate by either of the two countries. However, Russia continues to motivate New Delhi and Beijing to resolve the border dispute through dialogue.

Roman Babushkin, Russian Deputy Chief of Mission in Delhi on Tuesday said that Russia has no doubt that Indian and Chinese friends would find a mutually acceptable solution through dialogue.

Amid the simmering tensions between Indian and Chinese troops at the Line of Actual Control (LAC) in Ladakh, China has started deploying its soldiers in large numbers near the LAC.

On Monday (September 7), the Indian Army succeeded in foiling the incursion of the People's Liberation Army (PLA) into the Mukhri area of ​​Chushul, but more such actions are expected from China in the coming days.

Late-stage studies of AstraZeneca's Covid-19 vaccine candidate are on temporary hold while the company investigates whether a recipient's potentially unexplained illness is a side effect of the shot.

In a statement issued on Tuesday evening, the company said its standard review process triggered a pause to vaccination to allow review of safety data.

The officials of the Anti Corruption Bureau (ACB) on Tuesday raided the office of the Revenue Divisional Officer (RDO) at Atmakur town of Nellore district in Andhra Pradesh.

The raid was carried out under the supervision of Nellore ACB Inspector Ramesh along with a team of four at 10 am on Tuesday.

Delhi Metro's Blue Line and Pink Line resumed services with curtailed operation timings on Wednesday after being closed for 171 days due to the COVID-19 pandemic, officials said.

Trains are to operate in batches of four-hour each from 7-11 AM in the morning and 4-8 PM in the evening in the first stage.

The Telangana Cabinet on Monday approved several bills, which be taken up for discussion at the Monsoon session of the State Legislative Assembly.

The meeting approved a number of bills to be taken up including the GST and Fiscal Responsibility and Budget Management -2020 (FRBM) Bills.

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