Sensex sheds 115 points on weak global cues, profit-booking

The key Indian equity indices on Wednesday provisionally closed in the negative territory following weak global cues, along with heavy selling pressure in the banking, consumer durables and capital goods stocks.

Benchmark Sensex fell over 115 points while the Nifty closed below 10,600 amid weak global cues and unabated foreign fund outflows.

Asian markets fell and European shares opened lower, tracking overnight losses on Wall Street, led by sell-off in industrials, materials and technology stocks after the 10-year Treasury yield briefly touched the psychologically important 3 per cent level for the first time in four years.

Tomorrow's April month expiry in the derivatives segment added to the volatility in the domestic market, brokers said.

The 30-share Sensex, after a lower opening, stayed in the negative zone for the most part of the session and hit a low of 34,400.56, before settling at 34,501.27, down 115.37 points, or 0.33 per cent. Intra-day, it turned briefly positive to hit a high of 34,631.27
It had gained 201.06 points in the previous two sessions.

Likewise, the 50-scrip NSE barometer Nifty declined 43.80 points, or 0.41 per cent, to close at 10,570.55 after shuttling between 10,536.45 and 10,612.60. 

(With inputs from Agencies)