New Delhi: Stock markets opened on a negative note on Wednesday while the NSE Nifty came below 10,600 level on weak global cues.

The BSE Sensex after opening at 34,593.17 points touched a high of 34,611.73 and low of 34,536.70 points. On the other hand, the broader 51-scrip Nifty at the National Stock Exchange (NSE) opened at 10,612.40 points after closing at 10,614.35 points.

The rupee, meanwhile depreciated 21 paise to 66.59 against the US dollar today at the interbank foreign exchange due to appreciation of the greenback amid rising US bond yields and surge in global crude oil prices.

Asian shares fell on Wednesday as a rise in US. bond yields to 3 percent and warnings from bellwether U.S. companies of higher costs drove fears that corporate earnings growth may peak soon.

MSCI`s broadest index of Asia-Pacific shares outside Japan dropped 0.7 percent to its lowest in almost three weeks, with tech-heavy Taiwan shares hitting two-month lows on worries about slowing semi-conductor demand.

Japan`s Nikkei also dropped 0.7 percent. S&P E-mini futures slipped 0.2 percent. Wall Street shares skidded overnight, with the S&P 500 falling 1.34 percent, the most in two-and-a-half weeks.