New Delhi: Equity indices tumbled on Wednesday along with benchmarks BSE Sensex IT and financial stocks fell over 650 points amid weak cues from global markets.
The 30-share BSE Sensex closed at 60,099, down 656 points, or 1.08 per cent; while the broad NSE Nifty It closed 175 points or 0.96 per cent lower at 17,938.
Infosys, Asian Paints, HUL, Bajaj Finance, TCS and Kotak Bank were the major losers, with the Sensex down 2.77 per cent.
While SBI, Tata Steel, Maruti and Axis Bank were the top losers, rising up to 1.75 per cent.
The Nifty IT, Financial Services and FMCG sub-indices fell up to 2.13 per cent on the NSE platform.
Technology stocks led the decline as US Treasury yields hit a two-year high.
A global technology stock sell-off shook Asian stock markets on Wednesday, according to experts, as investors worried about inflation and prepared for a tighter US monetary policy.
Aishwarya Dadhich, fund manager at Ambit Asset Management, told the news agency, “The tightening of US yields raised fears of a Federal Reserve interest rate hike, which has spread across Indian markets and may begin consolidation after a solid run.” Has gone.” Reuters.
Higher US yields and rising interest rates make riskier assets such as emerging market equities less attractive, leading to an outflow of funds from the sector.
Meanwhile, foreign investors remained net sellers in the Indian equity markets as they sold shares worth Rs 1,254.95 crore on Tuesday, according to stock exchange data.
(with inputs from agencies)
The 30-share BSE Sensex closed at 60,099, down 656 points, or 1.08 per cent; while the broad NSE Nifty It closed 175 points or 0.96 per cent lower at 17,938.
Infosys, Asian Paints, HUL, Bajaj Finance, TCS and Kotak Bank were the major losers, with the Sensex down 2.77 per cent.
While SBI, Tata Steel, Maruti and Axis Bank were the top losers, rising up to 1.75 per cent.
The Nifty IT, Financial Services and FMCG sub-indices fell up to 2.13 per cent on the NSE platform.
Technology stocks led the decline as US Treasury yields hit a two-year high.
A global technology stock sell-off shook Asian stock markets on Wednesday, according to experts, as investors worried about inflation and prepared for a tighter US monetary policy.
Aishwarya Dadhich, fund manager at Ambit Asset Management, told the news agency, “The tightening of US yields raised fears of a Federal Reserve interest rate hike, which has spread across Indian markets and may begin consolidation after a solid run.” Has gone.” Reuters.
Higher US yields and rising interest rates make riskier assets such as emerging market equities less attractive, leading to an outflow of funds from the sector.
Meanwhile, foreign investors remained net sellers in the Indian equity markets as they sold shares worth Rs 1,254.95 crore on Tuesday, according to stock exchange data.
(with inputs from agencies)
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