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Mumbai, March 19 The 75-basis point rate cut by the US Federal Reserve boosted sentiments across Asian markets on Wednesday, but the Indian bourses could not sustain gains. Lower opening of the European markets and more bad news such as poor growth in six core infrastructure sector in the domestic market pared early gains.

Rumours of a British bank facing liquidity problems pulled down the European markets against the expectations of a rally after the Fed rate cut. Sensex closed with a gain of 161 points at 14,994, in contrast to 632 points intra-day gain the index made to touch the day’s high of 15,465.

January data for six infrastructure sectors that registered just 4.2 per cent growth against 8.3 per cent growth during the same period last fiscal also dampened market sentiments.

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