Sensex skids for second day on US bond yields, inflation concerns

Equity benchmarks buckled under selling pressure for the second straight day on Wednesday, weighed by banking and finance counters, as global sentiment remained risk-averse amid spiking US bond yields and inflation concerns.

A depreciating rupee, which tumbled for the fourth session on the trot, also took a toll on investor confidence, traders said.

The 30-share BSE Sensex opened weak and extended its losses, before staging a comeback in late-afternoon trade to close at 59,413.27, still down by 254.33 points or 0.43 per cent.

Similarly, the broader NSE Nifty declined 37.30 points or 0.21 per cent to finish at 17,711.30.