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Domestic equity markets took a sharp U-turn on Wednesday amid fears that Foreign Portfolio Investment flows to India may take a hit in the backdrop of deteriorating India-Canada ties.
Investors also resorted to profit-taking ahead of the US Federal Reserve meet outcome later tonight on interest rates and the forward looking commentary. The US Fed is expected to keep rates unchanged.
That apart, inflatinary concerns back home owing to deficit monsoon and rise in Crude Oil prices also weighed on the sentiment.
