Indian stock markets Sensex and Nifty closed lower on Wednesday tracking the negative global cues with Sensex falling 140 points and Nifty finishing below 11,500 after India’s August services sector activity fell from the 21-month high. BSE Sensex touched a day’s bottom at 37,774.42, down 383.50 points and Nifty hit a day’s low at 11,393.85, down 126.45 points. The seasonally adjusted Nikkei India Services Business Activity Index fell from July’s peak of 54.2 to 51.5 in August owing to weakest growth in new work in three months.
Indian equities started flat on Wednesday with Sensex opening slightly up in green and Nifty beginning marginally down in red following the declines in the regional Asian markets. Asian stocks tracked their global peers lower while the safe-haven dollar was broadly higher on Wednesday as worries over persistent trade conflicts curbed investor appetite for riskier assets.