Indian shares fall as US bond yields increase
- 18 Mar 2021
Gulf Today Report
Indian shares declined above 1% on Thursday following an increase in US bond yields after the US Federal Reserve announced its decision to maintain its dovish stance.
The NSE Nifty 50 index fell 1.01% to 14,572.40 by 08:29 GMT while the S&P BSE Sensex slipped 1.07% to 49,257.85.
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Amir Kumar Gupta, portfolio manager at Adroit Financial Services Pvt.Ltd said, "US 10-year yields are now up to 1.72%, its highest since January last year and it is tough to ignore sentiment from the bond market which is spilling over to equity markets."
Private-sector lender ICICI Bank Ltd which was among the top boosts to the Nifty 50 earlier in the session, gave up gains to fall 1.4%.
State-run banks, which rose 1.92% earlier in the day were down 1.95% in afternoon trade.
