India’s key equity indices ended lower for the second straight day on the back of weak global cues which emanated from rising global bond yields on Friday.
Accordingly, the two indices had a gap down opening on account of weak global cues, high volatility and profit booking.
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.
Meanwhile, Asian stocks dropped to one-month lows as rising US treasury yields again rattled equity investors.Japan’s Nikkei share average cracked by 0.23 per cent and shares in Seoul fell by 0.57 per cent. Hong Kong’s Hang Seng index was down by 0.47 per cent.
Overnight, US stocks dropped after US Federal Reserve Chair Jerome Powell disappointed some investors by not indicating that the Fed might step up purchases of long-term bonds to hold down longer-term interest rates.
(With inputs from agencies)
Source: Thanks WIONews.com