Sensex falls 757 points as uncertainty clouds peace talks

MUMBAI: The fragile nature of the West Asia peace talks took its toll on investor sentiment in the markets on Wednesday with a reversal of sensex’s three-session winning run, and the index closed 757 points lower at 78,516 points. Rising crude oil prices didn’t help, and the weakness of the rupee continued to weigh on sentiment, market players said.

The sensex opened on a weak note, dipped lower and after a bumpy ride through the session, closed near the intraday low of 78,442 points. On NSE, Nifty too followed a similar trajectory and closed 199 points lower at 24,378 points.

According to Ajit Mishra of Religare Broking, markets witnessed a corrective session due to weak global cues and sectorspecific pressure. On the sectoral front, “the tone was mixed, with a sharp sell-off in IT stocks, while auto, banking, and financials also witnessed profit booking after the recent rally.”

Foreign funds continued to sell aggressively in the market with the day’s net outflow at Rs 2,078 crore, BSE data showed.