Spike in Crude Prices and US Yields Drags India M-Cap Below $5 Trillion
· Business · Economic Times
A sharp sell-off in Indian equities on Tuesday pushed the combined market value of BSE-listed companies below $5 trillion to $4.92 trillion, a level last seen on June 11. The decline was triggered by crude oil prices surging above $100 a barrel and United States bond yields climbing past 5%, dampening investor sentiment. India's share of global market capitalisation fell to 2.95%, its lowest level since June 3, with total market value dropping by nearly $380 billion since the beginning of the year. On Tuesday, the Sensex dropped 778 points to close at 74,003.81, while the Nifty fell 280 points to 23,118.60. Market participants are now awaiting key central bank policy meetings for further direction amid reviving inflation concerns and fading interest rate cut expectations.
Why it matters
Investors and equity holders face reduced portfolio values as global macroeconomic pressures weigh heavily on Indian stock markets.
Read the original report — Economic Times
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