Paring their early gains, the domestic equity benchmark indices extended their losses for a second straight session on Wednesday as a sharp spike in crude oil prices amid geopolitical tensions dampened investor sentiment. The rising US bond yields and sustained foreign fund outflows also weighed on the indices.

Sensex, Nifty give up early gains

"Benchmark indices opened with a gap-up and initially extended their gains, but the momentum failed to sustain, with selling pressure emerging as the session progressed. The indices subsequently traded lower through the day, giving up their early gains and closing in negative territory amid higher crude prices as Brent Crude moved above USD 110," Pabitro Mukherjee, Deputy Vice President Research, Bajaj Broking said.