Equity benchmark indices Sensex and Nifty stayed on the back foot for the third straight session on Wednesday as investors offloaded utility, capital goods and metal stocks amid foreign fund outflows.Besides, investor sentiment remained subdued ahead of the outcome of the US Federal Reserve's policy meeting, scheduled for Wednesday, traders said.The 30-share BSE benchmark tumbled 502.25 points to settle at 80,182.20, taking its downtrend to the third day. The NSE Nifty declined 137.15 points to 24,198.85."The near-term market construct has turned weak, with FIIs turning sellers on rallies. Yesterday's massive FII sell figure of Rs 6,410 crore in the cash market indicates that more selling is in store on market bounces."The focus of global markets today will be the Fed decision," VK Vijayakumar, of Geojit Financial Services, said.

Sensex, Nifty extend losses on FIIs selling

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