Indian fairness benchmarks fell sharply on Friday mirroring losses in different Asian markets on fears that rising bond yields on US would end in outflow of international funds from rising markets. The S&P BSE Sensex dropped as a lot as 449 factors and Nifty 50 index touched an intraday low of 14,452. Asian share markets eased on Friday as a spike in international bond yields soured sentiment towards richly priced tech shares, whereas a stampede out of crowded positions in crude oil brought about the sharpest setback in months.
As of 9:23 am, the Sensex was down 318 factors at 48,898.53 and Niftty 50 index declined 118 factors or 0.81 per cent to 14,440.
Promoting strain was broad-based as all of the 11 sector gauges compiled by the Nationwide Inventory Change had been buying and selling decrease led by the Nifty PSU Financial institution index’s 1.3 per cent fall.