Market trades lower, Nifty below 12,000; ICICI Bank gains

ICICI Bank shares touched a new 52-week high of Rs 524.70 apiece, gaining over 3 percent on Wednesday after global brokerages maintained their bullish stance on the stock. The stock has surged over 45 percent so far in 2019.

Tata Motors rose 6 percent in intraday deals as the company's arm Jaguar Land Rover's November sales climbed up 6 percent YoY and 19 percent MoM.

Meanwhile, Kerala-based private lender CSB Bank (formerly known as Catholic Syrian Bank) made a debut on Wednesday, listing at Rs 275 per share on the BSE, up 41 percent from its issue price of Rs 195. CSB Bank’s Rs 410-crore IPO was subscribed 87 times last week.

In the currency markets, the Indian Rupee traded at 71.80 per US dollar. The home currency had opened on a weak note and fell 125 paise to 71.78 against the greenback. PTI quoted forex traders as saying the rupee is trading in a narrow range ahead of the RBI monetary policy decision on Thursday.

Asian shares extended losses on Wednesday with Japan's Nikkei dropping 1 percent, matched by falls in Hong Kong and Korea, where stock markets touched their lowest since October. Shanghai blue chips fell 0.2 percent and Australia's S&P/ASX200 tumbled 1.6 percent, having shed almost 4 percent since closing on Monday.