Indian Equities Extend Losses Amid Weak Global Cues And Crude Pressures
· Business · Economic Times, Business Standard
Indian equities extended losses on Tuesday, with the Sensex falling 493 points to close around 77,235 and the Nifty 50 dropping 133 points to end at 24,155. This marked the third straight session of losses for the Sensex and the sixth consecutive session of declines for the Nifty. Broader markets also closed in the red, with the Nifty Smallcap 100 and Nifty Midcap 100 falling up to 0.4%. Analysts attribute the risk-off sentiment to fading hopes for a Middle East peace deal, elevated crude prices, rising US bond yields, and weak global cues. IT stocks led the losses due to concerns over high interest rates dampening global technology spending, while foreign institutional investors remained cautious amid rising input costs.
Why it matters
Sustained high crude prices and rising US bond yields pressure emerging market valuations and recent domestic earnings upgrades, keeping investors cautious.
Read the original report — Economic Times
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