Rising yields & inflation drag Sensex by 1,844 pts in 3 days
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Domestic inventory markets on Thursday misplaced 1 extra per cent as weak international cues continued to hit sentiment. The benchmark Sensex misplaced 634 factors to 59,464.62 and the NSE Nifty Index fell 181 factors at 17,757 amid the promoting stress.
With this, the Sensex has fallen 1,844 factors within the final three days.
The rupee additionally slipped 7 paise to shut at 74.51 towards the US greenback, monitoring a weak pattern within the fairness market.
According to analysts, rising crude oil costs and excessive inflation have hit the worldwide inventory markets. Brent crude futures have been down 27 cents, or 0.3 per cent, at $88.17 a barrel by 1448 GMT after dropping greater than $1 in earlier commerce.
The steady rise in bond yields globally, which is driving the market away from riskier belongings, additionally impacted the sentiment amid hypothesis that the US Federal Reserve is more likely to ship greater than a 25-basis-point charge hike in March. Benchmark 10-year be aware yields have been final at 1.825 per cent, after reaching 1.902 per cent in in a single day buying and selling on Wednesday.
