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Mumbai, Nov 10 Continous foreign fund outflows as well as negative global cues and mild profit bookings subdued India's key equity indices S& P BSE Sensex and NSE Nifty50 on Wednesday.The FIIs sold Rs 469.50 crore on the BSE, the NSE and the MSEI in the capital market segment during the day's trade.Initially, both the indices opened gap down in line with weakness in the other markets but clawed back through the day to end marginally in the negative.In terms of global markets, Asian shares were largely down on Wednesday, tracking Wall Street's retreat, with Chinese benchmarks leading the decline after the government reported a surge in inflation in October.European stock markets opened cautiously higher on Wednesday as investors digested soaring inflation in China and Germany and as they awaited a key US report on consumer prices to assess the risk of tighter monetary policy.On the domestic front, the volumes on the NSE were in line with recent average.Segment-wise, oil and gas and telecom indices gained the most whereas realty, metals, consumer durables, and bank indices fell the most.The 30-scrip Sensex closed at 60,352.82 points, down 80.63 points, or 0.13 per cent, from its previous close.Similarly, the NSE Nifty50 ended the day's trade on a lower note, falling to 18,017.20 points, down by 27.50 points, or 0.15 per cent, from its previous close."Nifty closed almost flat for the second consecutive session with advance de cline ratio falling to slightly in the negative," HDFC Securities' Head of Retail Research, Deepak Jasani, said."As compared to the previous session, it made a lower high. 18,113 on the upside is the resistance level to watch while 17,836 is the support level to protect in the near term."Geojit Financial Services' Head of Research Vinod Nair said: "Broadly, domestic market continued to trade negative after a disappointing opening as inflation worries affected the global markets.""However, the market trend was mixed on stock to stock basis. Globally, investors are awaiting the release of the US inflation data due later, which is expected to continue at peak levels."LKP Securities' Senior Technical Analyst Rohit Singre said: "Index opened a day with a gap down but at the end, the index managed to close a day again above 18K mark with mild loss.""The index has formed a support zone around 17,970-17,920 zone, if it manages to hold at above-said levels, we may see some swift bounce incoming session but if failed to hold then, we may see more drag down towards 17,700-17,600 zone which are dip supports for index and good hurdle for Nifty is formed near 18,100-18,200 zone... overall range is still in coming in between 17,600-18,300 zone."Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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