Key benchmark indices were trading lower in early trade amid negative global cues. At 9:19 IST, the barometer index, the S&P BSE Sensex, was down 109.60 points or 0.27% at 39,840.86. The Nifty 50 index was down 33 points or 0.28% at 11,932.60.

Among secondary barometers, the BSE Mid-Cap index was down 0.22%. The BSE Small-Cap index was down 0.16%.

The market breadth, indicating the overall health of the market, was negative. On BSE, 354 shares rose and 533 shares fell. A total of 36 shares were unchanged.

Overseas, Asian stocks declined on Wednesday. China's inflation data showed the producer price index in the country rising 0.6% year-on-year in May. The consumer price index also rose 2.7% year-on-year in the same period.

US stocks declined on Tuesday, snapping a six-day winning streak. President Donald Trump reportedly said he is personally holding up a trade deal with China and that he will not complete the agreement unless Beijing returns to terms negotiated earlier in the year.

Back home, Reliance Industries (RIL) was up 0.68%. RIL and BP announced the sanction of the MJ project (also known as D55) in Block KG D6, offshore the east coast of India. MJ is the third of three new projects in the Block KG D6 integrated development plan and its approval follows sanctions for the development of 'R-Series' deep-water gas field in June 2017 and for the Satellites cluster in April 2018. The announcement was made after market hours yesterday, 11 June 2019.

Yes Bank was down 2.40%. Ratings agency Moody's has placed Yes Bank's ratings under review for downgrade on concerns over the high exposure to NBFC and real estate sectors. The announcement was made after market hours yesterday, 11 June 2019.

Adani Green Energy was up 2.12%. Gautam S. Adani & Priti G. Adani (on behalf of Gautam S. Adani Family Trust) and Gautam S. Adani & Rajesh S. Adani (on behalf of S. B. Adani Family Trust) (Sellers) announced Offer for sale up to 67,24,766 and 8,68,59,534 equity shares, respectively (representing up to 0.43% and 5.55% of the paid-up equity share capital of the company, respectively), cumulatively aggregating up to 9,35,84,300 Equity Shares (cumulatively representing 5.98% of the paid-up equity share capital of the company), by way of an offer for sale through the stock exchange mechanism (OFS). The Floor Price for the OFS is Rs 43 per share. The announcement was made after market hours yesterday, 11 June 2019.

Dewan Housing Finance was up 4.95%. The company said that it has made full payment towards interest payable on secured redeemable Non-convertible Debentures (NCDs) issued by way of public issue within the cure period of 7 working days. The company has made interest payments in lieu of Rs 961 crore as committed to its debenture holders. With this tranche, the company confirms full payment and will seek rating upgrades from agencies. The announcement was made after market hours yesterday, 11 June 2019.