The market declined amid negative cues from other Asian shares. Investors remained cautious amid ongoing Q4 earnings season and second phase of polling for the 2019 Lok Sabha elections. The barometer index, the S&P BSE Sensex, fell 135.36 points or 0.34% to 39,140.28, as per the provisional closing data. The Nifty 50 index fell 34.35 points or 0.29% to 11,752.80, as per the provisional closing data.

Domestic financial market will remain closed on Friday, 19 April 2019, on account of Good Friday.

After opening higher, the key indices reversed trend in morning trade. Some range bound trading was witnessed in mid-morning trade. Fresh bout of selling pressure emerged in early afternoon trade. After a brief recovery in mid-afternoon trade, indices hit fresh intraday low in late trade.

Selling was broad based. Among secondary barometers, the BSE Mid-Cap index fell 0.89%. The BSE Small-Cap index fell 0.99%.

The market breadth, indicating the overall health of the market, was weak. On BSE, 893 shares rose and 1668 shares fell. A total of 166 shares were unchanged.

Yes Bank (down 4.11%), Vedanta (down 3.67%), IndusInd Bank (down 3%), State Bank of India (down 1.69%) and Tata Steel (down 1.67%), were the major Sensex losers.

Tata Motors (up 2.41%), Asian Paints (up 0.77%), TCS (up 0.69%), Hero MotoCorp (up 0.04%) and Coal India (up 0.04%), were the major Sensex gainers.

Reliance Industries (RIL) rose 2.88% ahead of its Q4 results today, 18 April 2019. Meanwhile, Reliance Ethane Holding Pte. Ltd. ("REHPL") (incorporated in Singapore, a wholly owned subsidiary of RIL, having 100% holding in six limited liability companies (LLCs) which own Very Large Ethane Carriers (“VLEC” or the “Vessel”)), Mitsui O.S.K Lines (MOL) of Japan and a strategic minority investor have signed binding definitive agreements for a strategic investment by MOL and minority investor in the six special purpose limited liability companies (SPVs), each owning a VLEC. The announcement was made yesterday, 17 April 2019.

IT major Wipro rose 1.37%. The board of directors of Wipro has approved a proposal to buyback up to 32.30 crore shares of the company for an aggregate amount not exceeding Rs 10500 crore, being 5.35% of the total paid-up equity share capital, at a price of Rs 325 per share. Members of the promoter and promoter group of the company have indicated their intention to participate in the proposed buyback. The announcement was made after market hours on Tuesday, 16 April 2019.

Wipro's consolidated net profit fell 1.07% to Rs 2,483.50 crore on 1.45% rise in total income to Rs 15915.30 crore in Q4 March 2019 over Q3 December 2018. The result was announced after market hours on Tuesday, 16 April 2019.

In its outlook for Q1 June 2019, Wipro expects revenue from IT services business to be in the range of $2,046 million to $2,087 million. This translates to a sequential growth of -1% to 1% excluding the impact of the divestment of Workday and Cornerstone On Demand business which was concluded in Q4 March 2019. The outlook is based on the following exchange rates: GBP/USD at 1.32, Euro/USD at 1.14, AUD/USD at 0.71, USD/INR at 70.16 and USD/CAD at 1.33

RBL Bank was down 0.16%. The bank's net profit rose 38.77% to Rs 247.18 crore on 46.18% increase in total income to Rs 2,243.35 crore in Q4 March 2019 over Q4 March 2018. The result was announced during trading hours today, 18 April 2019.

Mahindra & Mahindra (M&M) fell 0.76%. Mahindra Group and Ford Motor Company today, 18 April 2019, took the next step in strengthening their ongoing strategic alliance in India with a definitive agreement to co-develop a midsize sports utility vehicle (SUV). Under the new agreement, Mahindra and Ford will work together to introduce a benchmark product for India and emerging markets. The new agreement reinforces the steady progress made since the announcement of the strategic alliance between the two companies in September 2017, followed by an announcement on powertrain sharing and connected car solutions in October 2018. The new midsize sports utility vehicle (C-SUV) will have a common Mahindra product platform and powertrain, thus driving engineering and commercial efficiencies.

On the political front, voting in the second phase of the 2019 general elections began today, 18 April 2019, in 95 constituencies across 11 states and one Union Territory. The 2019 Indian general election, which is scheduled to be held in seven phases, kicked off on 11 April 2019. It will conclude on 19 May 2019. The counting of votes will be conducted on 23 May, and on the same day the results will be declared.

Overseas, most European shares came off early lows on Thursday, as investors cautiously awaited manufacturing data to gauge the health of euro zone economies ahead of the Easter holiday. European markets will remain closed on Friday and Monday for the Easter holiday.

Asian shares slipped on Thursday. Chinese government data showed the country's economy grew 6.4% year-over-year in the first quarter of 2019, maintaining the pace seen in the last quarter of 2018 as factory output picked up steam.

US stocks closed lower Wednesday as the health-care sector slumped on concerns over potential adverse impact from future policy changes.

The US trade deficit fell 3.4% in February to the lowest level in eight months, the Commerce Department said. Meanwhile, wholesale inventories in the US rose a mild 0.2% in February and sales increased 0.3%.

Meanwhile, most of the US Federal Reserve's 12 district banks reported economic activity expanded at a "slight-to-moderate" pace in March and early April, according to the Federal Reserve's Beige Book report, released Wednesday.