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