MARKETS LIVE: Sensex pares losses, Nifty hovers around 11000, metals crack

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The Sensex and Nifty edged lower for a second straight session on Wednesday, tracking Asian peers, as caution crept into the markets ahead of the federal budget, due on Thursday.

Asian stocks were also down as the recent rise in global bond yields weighed on equities, with MSCI’s broadest index of Asia-Pacific shares outside Japan edging 0.2% lower.

Indian markets have been on a record-hitting spree in recent weeks, driven by liquidity, better-than-expected corporate earnings, and a positive economic growth forecast.

However, on Tuesday, they had their second biggest fall for the month with investors turning net sellers on caution ahead of the federal budget.business-standard