Indian equity markets opened higher but erased all gains late in the day, with key indices shedding more than 250 points, again falling below important psychological thresholds. The Sensex closed down 252 points at 8,839 while the Nifty fell 72 points to 2,682, as profit-taking occurred at higher levels due to continued underlying weakness. All sectors ended in the red, with realty, automobiles and banks among the biggest decliners. Global cues were mixed, with U.S. indexes flat and Japan's Nikkei down over 1% while Hong Kong's Hang Seng rose nearly 2%. Analysts said markets will continue to experience volatility due to many global and domestic uncertainties.