Wednesday was another day of fall for benchmark stock indices Sensex and Nifty as US 10-year bond yields spiked and dollar hit four-month high against a basket of major currencies, ahead of US CPI inflation data later in the day.

Indian benchmark indices opened higher on Tuesday but quickly reversed gains as bank and auto stocks came under pressure, following three straight sessions of losses due to weak earnings and persistent foreign outflows.

Benchmark stock market indices dropped in the afternoon session, with the Sensex experiencing a notable decline due to weak earnings reports and foreign outflows. The S&P BSE Sensex lost 659.08 points to 78,

Indian benchmarks opened higher, led by banking and IT stocks, after three sessions of declines due to weak earnings.