The Bombay Stock Exchange (BSE) benchmark Sensex  on Wednesday, shed 70 points after being trapped in a small range throughout the day on selective profit selling triggered by weak global cues.
     After a feeble resistance shown in the past two days, the markets succumbed to selling pressure amid a slowdown in FII inflow and absence of short-covering, market players said. The Bombay Stock Exchange (BSE) barometer changed the tracks after a promising start at 14,520.19 and touched the day’s low of 14,407.12 before ending the day at 14,431.06, a net fall of 70.02 points or 0.48 per cent from Tuesday’s close of 14,501.08.
Tracking a further fall in the heavyweight ONGC, the broader S&P CNX Nifty of the National Stock Exchange (NSE) dipped by 21.75 points or 0.51 per cent to 4,263.95 from the previous close of 4,285.70. The market failed to sustain in view of continued global weakness and approaching expiry of June series, they added.
Asian markets exhibited weak trend. IT majors like Infosys Tech, Satyam Computers and TCS  recovered smartly as the rupee showed signs of weakness against the dollar during the day.