Sensex pullback

Indian benchmark indices witnessed a magnificent pullback on Wednesday following a splendid bounce-back in the US markets; courtesy Fed's announcement that interest rates will stay near-zero for the next two years. The euphoria was reflected in the market breadth. The advance-decline ratio stood at 7:1.

The benchmark Sensex rallied nearly 400 points in the opening trade on short covering. However, there was some profit booking at higher levels as a few investors sold-on on the rally. The 30-share Sensexjumped 293 points to 17,151 and the 50-share NSENifty went up 92 points to 5,165.