Rising global bond yields spook markets, Sensex plunges 1,939 points

The equity benchmarks witnessed selling pressure, mirroring losses in other global markets, as a rout in global bond markets sent yields flying and worried investors

Update: 2021-02-26 10:20 GMT

The BSE Sensex crashed 1,940 points and the NSE Nifty plunged over 568 points to fall below the 15,000-mark on Friday, tracking global selloffs triggered by a panic in bond markets overseas.

The 30-share BSE Sensex fell 1,939.32 points, or 3.80 per cent, to 49,099.99 – its worst one-day fall since May 4 last year. Similarly, the broader NSE Nifty plunged 568.20 points, or 3.76 per cent, to close the session at 14,529.15 – the biggest single-day drop since March 23 last year.

All 30 constituents on the Sensex ended in the red, with eight scrips logging over 5 per cent drop.

The banking index suffered the biggest loss with over 4.8 per cent drop. Financial and telecom indices too fell sharply by 4.9 per cent and 3.85 per cent, respectively.

Elsewhere in Asia, bourses closed with heavy losses due to a rout in global bond markets.

Stock exchanges in Europe were also trading with losses in mid-session deals. Most global markets traded lower after Wall Street’s main indexes tumbled, following a steep rise in benchmark US Treasury yields.

Meanwhile, the global oil benchmark Brent crude was trading 1.16 per cent lower at $65.34 per barrel.

On the forex market front, the rupee tumbled 104 paise to close at 73.47 against the US dollar.

Tags:    

Similar News