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Profit booking hits Indian shares for the second consecutive day

Nifty declines 103 points, while Sensex loses 310 points; face resistance at higher levels

Profit booking hits Indian shares for the second consecutive day

Profit booking for the second day in a row took toll on Indian shares on Wednesday as Sensex and Nifty witnessed an erosion of over 1% in their values. Today's fall was the biggest fall in benchmark key indices in last six weeks with a dip of 310 points in Sensex to levels of 27,774 while Nifty lost nearly 103 points to settle at 8,575.30. Despite a 10% rally thus far this financial year, Indian markets are now facing stiff resistance. Levels of 28,000 and on Sensex and 8,600 on Nifty appear to becoming points of profit booking. According to market participants, these ...