Mumbai: Global cues especially the prospects of higher interest rates in the US subdued the Indian equity markets on Wednesday.
Market observers said the domestic equity indices mimicked their Asian peers which traded in the red following US Federal Reserve Chairman Jerome Powell’s comments on the rate hike trajectory.
At 3.30 p.m., the barometer 30-scrip Sensitive Index (Sensex) of the BSE provisionally closed at 34,184.04 points, down by 162 points or 0.47 per cent from its previous close of 34,346.39 points.
Similarly, the wider Nifty50 of the National Stock Exchange (NSE) edged lower during the day’s trade session. It receded by 61.45 points, or 0.58 per cent, to close a 10,492.85 points.