3 hrs ago
Sensex tanks 1,247 points as yields, crude pressure markets
Indian stock markets fell sharply on Thursday.
The Sensex dropped 1,247.71 points to 73,580.54.
The Nifty 50 fell 383.70 points to 23,063.10.
Investors were worried because US government borrowing costs rose.
The US 10-year Treasury yield reached about 5.11 percent.
Oil prices also climbed back to about $106 a barrel.
This raised concerns about inflation and borrowing costs.
Geopolitical uncertainty added to the nervous mood, so investors sold shares, especially financial stocks.
The BSE Sensex fell 1,247.71 points, or 1.67%, to close at 73,580.54.
The Nifty 50 declined 383.70 points, or 1.64%, to 23,063.10.
Brent crude rose to about $106 per barrel after falling to roughly $98 on Wednesday.
The US 10-year Treasury yield climbed to around 5.11%, raising concerns about inflation and borrowing costs.
Persistent geopolitical uncertainty and selling across sectors, especially financials, weighed on investor sentiment.
- Who
- Indian equity-market investors, with selling particularly affecting financial stocks.
- What
- The Sensex and Nifty 50 recorded sharp declines.
- Where
- Indian equity markets.
- When
- Thursday; the market closed at 3:30 p.m. according to the report timestamp.
- Why
- Rising US bond yields, higher crude prices and persistent geopolitical uncertainty increased concerns about inflation, borrowing costs and global monetary easing.
Key facts
- BSE Sensex close
- 73,580.54
- Sensex change
- Down 1,247.71 points, or 1.67%
- Nifty 50 close
- 23,063.10
- Nifty 50 change
- Down 383.70 points, or 1.64%
- Brent crude
- About $106 per barrel, up from roughly $98 on Wednesday
- US 10-year Treasury yield
- Around 5.11%
- Most affected sectors
- Financials and other rate-sensitive segments
Quotes
Vikram Kasat
Chief Business Officer - Advisory and Dealing at PL Capital
“Indian equities witnessed a sharp risk-off session as selling intensified across sectors, particularly financials.”
m.rediff.com
Sources
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