Sensex, Nifty in correction mode; Watch out for these key levels

On Wednesday in intra-day deals, the S&P BSE Sensex was down 660 points at 66,935, while the Nifty50 had shed a per cent or 190 points to 19,944.

Domestic equity markets took a sharp U-turn on Wednesday amid fears that Foreign Portfolio Investment flows to India may take a hit in the backdrop of deteriorating India-Canada ties.

Investors also resorted to profit-taking ahead of the US Federal Reserve meet outcome later tonight on interest rates and the forward looking commentary. The US Fed is expected to keep rates unchanged.

That apart, inflatinary concerns back home owing to deficit monsoon and rise in Crude Oil prices also weighed on the sentiment.

At 11:40 AM, the S&P BSE Sensex was down 660 points at 66,935, while the Nifty50 had shed