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Nifty 50 slips below 23,000 as US yields and oil weigh

Analysts cited a US 10-year yield above 5% and renewed inflation fears tied to elevated crude prices as key drags on Indian equities.

Reported · Written up by our desk · Asia

India’s Nifty 50 broke down after trading for more than a month in a 23,000 to 24,000 range, slipping below 23,000 decisively, according to LiveMint Markets.

LiveMint Markets reports that experts pointed to rising US bond yields, especially the US 10-year yield, as a major drag on the Indian stock market, noting the yield has crossed 5%.

The outlet added that sustained elevated crude oil prices are raising renewed inflation concerns, which could pressure industrial margins and quarterly earnings, while weak monsoon output is also expected to weigh on the government’s finances.

Experts said further escalation in US yields could add additional pressure on the Nifty 50 and other key benchmark indices.

Latest closeWTI crude $93.42 ▲1.1%

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