Sensex falls 75 points as investors cream off gains

India`s key equity indices reversed gains on Wednesday, as investors sold to profit from three straight sesions of gains. The barometer Sensex, which had risen 300 points after opening, surrendered the gains on profit taking, and was trading lower. 

IT and FMCG sectors were the only bright spot in an otherwise subdued trading session. Heavy selling pressure was witnessed in oil and gas, banking and finance counters.  The domestic currency was trading at Rs 73.51 to a dollar after it had closed at 73.46 on Tuesday.

The Brent crude trader higher at $81.73 a barrel.  At 1.58 p.m., the barometer Sensex was trading at 35,108, down 75 points or 0.22 per cent. The broader Nifty of the National Stock Exchange was at 10,540.70, down 44.05 points or 0.42 per cent from its Tuesday`s close.

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The Sensex has so far touched an intra-day high of 35,605.43 and a low of 35,056.57.