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Indian stocks extend losing streak on higher oil and bond yields
The Nifty 50 dropped 0.28% to 22,716.2 and has fallen nearly 6% over seven weeks, while Brent hovered near $105 a barrel and the 10-year US Treasury yield topped 5.27% for the first time in 19 years.
India’s equity benchmarks extended their decline on Tuesday as geopolitical tensions kept crude prices and global bond yields elevated, raising concerns about potential foreign investor outflows from domestic stocks, LiveMint Markets reported.
The Nifty 50 fell 0.28% to close at 22,716.2, while the BSE Sensex slipped 0.33% to 72,529.07.
LiveMint Markets said the Nifty 50’s indicative closing level briefly plunged about 2.5% during the closing auction, amid heightened volatility around the monthly expiry of derivatives contracts.
According to LiveMint Markets, Brent crude futures were hovering around $105 a barrel, and the benchmark 10-year US Treasury yield surged above 5.27%, its highest level in 19 years, as the indices have lost nearly 6% over the past seven weeks.
Latest closeWTI crude $93.42 ▲1.1%|Brent $98.85 ▼5.2%|Sensex 73,895.74 ▲0.4%