Global Markets
Home›Global Markets›Emerging Markets›Nifty 50 stocks slide as crude oil pressure and global…
Nifty 50 stocks slide as crude oil pressure and global yields bite
More than 20 Nifty 50 constituents are down over 20% from recent highs, and Nifty 50 fell 6% in September.
Over 20 Nifty 50 constituents are now trading more than 20% below recent highs, reflecting a broad risk-off move as investors shy away from equities, LiveMint Markets reports.
The outlet links the market pressure to higher crude oil prices following US and Israel joint strikes on Iran in late February, which it says contributed to global bond yields rising to levels not seen in two decades amid inflation and widening government deficit concerns.
In India, LiveMint Markets cites additional headwinds including a falling rupee, persistent selling by overseas investors, and challenges in the rural economy, all of which it says intensified pressure on domestic stocks.
The sell-off spared no sector, with tech stocks sliding and FMCG, auto, and financial shares also hit, while the Nifty 50 dropped 6% in September, the outlet adds.
Latest closeWTI crude $90.46 ▲1.2%