Global inflation concerns pull down markets; Sensex falls 471 points

The benchmark indices fell for a second day on Wednesday amid a sell-off in global markets, particularly tech stocks, on worries over a possible rise in inflation in the US due to rising commodity prices. Investors feared that a surge in inflation in the US would force central banks to raise interest rates and trigger a flight of capital from emerging markets, including India.

The benchmark Sensex fell 471 points, or 1 per cent, to end the session at 48,691. The Nifty ended the session at 14,696, with a decline of 154 points, or 1 per cent.

Most Asian equity benchmarks traded