Rate hike

After gaining 507.02 points in the previous three sessions, BSE Sensex settled lower by 113.57 points at 28,220.98. NSE Nifty reclaimed the 8,800-mark, but could not hold on to it under the selling pressure as it closed down 25.20 points at 8,743.95.

Following the sharp rally in stocks on Tuesday, investor wealth rose by Rs 1,39,948 crore to Rs 1,10,70,610 crore.

Forex analysts observe that foreign portfolio flows have continued to remain skewed towards the equity segment.