Sensex, Nifty fall for 2nd day as rising US bond yields rattle global investors

Mumbai: Benchmark BSE Sensex tumbled over 440 points and the NSE Nifty cracked below the psychological 15,000-level on Friday due to profit booking in financials and IT stocks in line with relentless sell-offs in global equities as US bond market turmoil continued to rattle investors.
The 30-share BSE barometer declined by 440.76 points or 0.87 per cent to close at 50,405.32, continuing its falling trend for the second day due to concerns over bond yields. Intra-day, the index swung around 726 points.
The NSE barometer Nifty ended lower by 142.65 points or 0.95 per cent at 14,938.10.
“Domestic equities corrected for second consecutive day as rise in 10-Year USA Treasury yields and commentary from Federal Reserve chairman on rising bond yields weighed on investors’ sentiments. Barring FMCG, all key sectoral indices witnessed sharp pullback with metals and PSU bank indices witnessing steeper correction in the range of 3-4 per cent, said Binod Modi, Head – Strategy at Reliance Securities.
Over the last two sessions, the Sensex has shed 1,039.33 points or 2.02 per cent and the Nifty has lost 307.5 points or 2.01 per cent. However, on weekly basis, the Sensex gained 1,305.33 points or 2.65 per cent and the Nifty added 408.95 points or 2.81 per cent.
On the Sensex chart, IndusInd Bank, SBI, Dr Reddy’s, NTPC, ICICI Bank, HCL Tech and Bajaj FinServ emerged as major laggards.
On the other hand, ONGC, Maruti, Kotak Bank, Nestle and Ultratech Cement were among gainers. Of the Sensex shares, 21 ended with losses.

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