Key indices are trading with small losses amid volatility in early trade. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 71 points or 0.19% at 37,902.22. The Nifty 50 index was down 5.35 points or 0.05% at 11,217.05.

The S&P BSE Mid-Cap index was up 0.15%. The S&P BSE Small-Cap index was up 0.05%.

The market breadth, indicating the overall health of the market, is positive. On the BSE, 787 shares rose and 702 shares fell. A total of 80 shares were unchanged.

Stocks in news:

Reliance Industries (RIL) rose 0.58%. RIL and Reliance Retail Ventures (RRVL) announced today that General Atlantic, a leading global growth equity firm, will invest Rs 3,675 crore into RRVL, a subsidiary of Reliance Industries. This investment values Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore. General Atlantic's investment will translate into a 0.84% equity stake in RRVL on a fully diluted basis.

PVR rose 1.5%. PVR said a board meeting is scheduled to be held on October 5 to consider raising of funds through issue of Non-Convertible Debentures.

Welspun Corp jumped 4.99% after the company received multiple orders of approximately 147 KMT valuing close to Rs. 1,400 crore. The inflow of orders is not only from the domestic O&G and water business but also from exports.

VA Tech Wabag surged 5.77% to Rs 201.50. The board of directors of VA Tech Wabag considered and approved the issue and allotment of 75,00,000 equity shares of face value of Rs. 2/- each, for cash, at a price of Rs 160 per equity aggregating to Rs 120 crore by way of preferential issue to Rekha Rakesh Jhunjhunwala (50,00,000 shares), Basera Home Finance (15,00,000 shares), Sushma Anand Jain and Anand Jaikumar Jain (Joint Holding) (10,00,000 shares).

Sumitomo Chemical India dropped 3.4% to Rs 287.35. Sumitomo Chemical Company proposes to sell up to 1,64,83,654 equity shares in company on September 30 and October 1. Floor price for the sale is fixed at Rs 270 per share.

Indraprastha Gas rose 0.55%. ICRA has reaffirmed Credit Rating of Indraprastha Gas for Rs 4000 crore at [ICRA]AAA (pronounced ICRA triple A) and [ICRA] A1+ (pronounced ICRA A one plus). Outlook on the long term rating is stable.

Global Markets:

Overseas, Asian stocks are mixed on Wednesday as investors reacted to the release of China's manufacturing activity data for September.

China's official manufacturing Purchasing Managers' Index (PMI) for September came in at 51.5 on Wednesday as compared to 51 in August, according to the country's National Bureau of Statistics. Meanwhile, a private manufacturing survey also showed manufacturing activity expanding in September, with the Caixin/Markit PMI coming in at 53 from 53.1 in August.

In US, Wall Street closed lower on Tuesday, snapping a three-day winning streak as investors took money off the table hours before the first U.S. presidential debate.

The first presidential debate involving United States President and Republican Party candidate Donald Trump and his rival from the Democratic Party Joe Biden spanned 90 minutes and involved topics such as the coronavirus pandemic, race and violence, economy and the two candidates' record. Going into the debate, most opinion polls had reportedly placed former vice president Biden in the lead. But, with over a month to go before the final ballots are cast, things could still change. In fact, this debate serves as an opportunity for millions of voters to directly compare the two leading candidates' policies and personalities.

U.S. House of Representatives Speaker Nancy Pelosi reportedly unveiled a new, $2.2 trillion coronavirus relief bill proposed by House Democrats, a sign of potential progress in the partisan tug-of-war over the new aid package nearly two months after emergency unemployment benefits expired for millions.

In economic news, the Conference Board said consumer confidence jumped much more than expected, hitting a print of 101.8 for September.

In coronavirus developments, Regeneron said its REGN-COV2 drug reduced viral levels and improved symptoms in non-hospitalized coronavirus patients.

Back home, the benchmark indices ended with minor losses after a volatile session on Tuesday. The barometer index, the S&P BSE Sensex, fell 8.41 points or 0.02% at 37,973.22. The Nifty 50 index lost 5.15 points or 0.05% at 11,222.40. Both these indices jumped 3.91% in the past two sessions.

Foreign portfolio investors (FPIs) sold shares worth Rs 26.98 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 542.34 crore in the Indian equity market on 29 September, provisional data showed.