US yield shock, oil surge hammer equities; Nifty hits lowest since April 7
BusinessLine 1 hr ago·24 Sept 2026, 3:24 pm
Domestic equity benchmarks fell sharply on Thursday, extending a global sell-off triggered by a sharp rise in US bond yields and a spike in oil prices. The BSE Sensex dropped over 1,200 points, while the Nifty 50 slipped nearly 400 points, marking its lowest close since early April. The broader market also saw significant weakness, with both the Nifty Midcap and Smallcap indices declining by over 2%. This broad-based decline was driven by a combination of factors, including the surge in crude oil prices, which increased the cost of imports for India, and the rise in US Treasury yields, which made equities less attractive compared to fixed-income assets.
For Indian investors, this market correction is a reminder of how closely domestic indices are linked to global risk sentiment. A rise in US yields often leads to capital outflows from emerging markets like India, as investors seek higher returns elsewhere. The sharp drop in oil prices would have provided some relief, but the overall impact of the global factors has outweighed it. The market is now closely watching the US Federal Reserve's upcoming policy decisions and the trajectory of global crude prices to gauge the next direction for Indian equities.
Excerpt from BusinessLine
The growing global uncertainty and a sharp spike in US bond yields triggered a broad-based sell-off in equity markets, dragging BSE Sensex to their lowest levels in three months. The BSE Sensex tumbled 1,248 points to close at 73,581, while the Nifty 50 shed 384 points to end at 23,063 on Thursday. The Nifty 50…Read the original at BusinessLine
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- Category: Economy.
- AI reads the tone as negative (potentially bearish) for the stock.
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