Royal Challengers have lost their last five matches while the Knight Riders will aim to bounce back after a home loss to RR
The benchmark 30-share Sensex index closed down 0.3 percent or 28.93 points at 9,618.54, snapping three days of gains.
“The markets recovered smartly from intraday lows on reports that the government was working on an economic stimulus package for key sectors,” said Hiten Mehta, a fund manager at Fortune Financial Services.
Dealers said they also expected India’s central bank to possibly announce further rate cuts to boost economic growth.
India’s growth is expected to slow to 7.1 percent in the current fiscal year—the lowest rate for six years and down from nine percent in 2007-08, according to official estimates.
Shares in fraud-hit Satyam rose 6.67 percent or 2.95 rupees to 47.15 on media reports that the company will pay staff salaries for February and would receive bank loans in coming days.
Satyam is set to announce its long-term strategic plan, including a possible buyer next week.
In Wednesday’s trade, gainers led losers 1,263 to 1,138 on turnover of 32.8 billion rupees (671 million dollars).
The rupee fell against the dollar to 48.82 from 48.70 and also against the euro to 63.07 from 62.54.
The rupee has been under pressure against the dollar for several months as funds have moved money into assets regarded as safer havens.
India’s largest private sector bank ICICI Bank rose 7.3 rupees or 1.71 percent to 435.4 on hopes of a further interest rate cut by India’s central bank.
India’s largest carmaker, Maruti Suzuki India, rose 24.35 rupees or four percent to 632.55 on hopes of a package from the government to boost growth.
The world’s sixth-largest steel maker Tata Steel fell 21 rupees or 3.73 percent to 541.5 after global leader ArcelorMittal swung to a fourth-quarter net loss of 2.63 billion dollars from a net profit of 2.44 billion dollars a year earlier.
Royal Challengers have lost their last five matches while the Knight Riders will aim to bounce back after a home loss to RR
Thailand's Atthaya Thitikul and South Korea's Im Jinhee share the second round lead at the LPGA's first women's major of the season
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The defence ministry said it intercepted 50 Ukrainian drones overnight
Media reports had suggested the trip would begin as soon as Sunday and last two days
Visitors can enjoy movies with family favourites, including ‘The Jungle Book’, ‘Jumanji’ and ‘Zootopia’ to match the wild theme every evening from 8pm
Sheikh Mohamed conveyed his congratulations to all eight honourees, recognising their inspiring efforts and significant contributions in service to society
His father thanked everyone who participated in the search mission despite the challenges posed by flooding in various parts of the emirate