MUMBAI: Profit taking by nervous investors ahead of the Lok Sabha poll results on June 4 pulled leading indices down for the fourth consecutive session on Wednesday.
Rising crude oil prices and fading chances of a rate cut by the US Federal Reserve also weighed on investor sentiment. As a result, even the improvement in India’s sovereign rating by global ratings agency S&P was discounted by Dalal Street investors, brokers and analysts said.At the close of Wednesday’s trading, the sensex was down 668 points or 0.9% at 74,503, while Nifty closed at 22,705 points, down 183 points. From its all-time peak of 76,010 points on Monday, the sensex has lost 1,500 points.
