Nifty 50 Slips Below 23,000 Amid Rising US Bond Yields and Oil Prices
· Business · LiveMint, Times of India
The Nifty 50 index broke below the crucial 23,000 mark after trading in a range between 23,000 and 24,000 for over a month. Market experts attribute the decline to rising US 10-year bond yields exceeding 5 per cent, elevated crude oil prices, and concerns over weak monsoon output. Choice Broking Executive Director Sumeet Bagadia noted that PSU banks, realty, and mid-small financials were among the major sectoral laggards. Prabhudas Lilladher Vice President Vaishali Parekh warned that downside targets of 22,500 and 22,000 are open as the daily chart formed a huge bearish candle. The India VIX rose 12.15 per cent to 13.6375, indicating heightened near-term volatility.
Why it matters
The breach of key support levels signals increased downside risk for Indian equities, driven by global macroeconomic headwinds and domestic inflation fears.
Read the original report — LiveMint
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