Home›Global Markets›Asia›Indian stocks end lower as bond yields rise and foreig…

Indian stocks end lower as bond yields rise and foreigners sell

Nifty 50 fell 0.7% to 22,363.4 and Sensex dropped 0.8% to 71,924.7, while the 10-year bond yield reached about 7.37%.

Reported · Written up by our desk · Asia

MarketSmith India said Indian equities ended lower on Monday, giving up early gains as rising bond yields and continued foreign selling outweighed a Friday relief rally.

According to the outlet, the Nifty 50 fell 157.1 points, or 0.7%, to close at 22,363.35, while the Sensex lost 547.7 points, or 0.8%, to settle at 71,924.68, despite both indexes opening higher.

MarketSmith India attributed the pressure in part to higher rates, noting India’s 10-year bond yield rose to a three-year high of about 7.37% after the RBI tightened banks’ daily cash reserve rules to drain surplus liquidity.

The outlet also cited foreign flow data, saying foreigners sold about ₹45,125 crore of Indian shares in the first six sessions of October, while Iran rejected the latest U.S. peace proposal and weak Asian markets added caution.

Latest closeSensex 72,638.70 ▼0.6%

More like this

Sources