Sensex, Nifty Extend Losses For Third Day On Weak Global Cues
(RTTNews) - Indian shares fell for a third day running on Friday as global markets slumped on concerns over rising bond yields and escalating tensions in the Middle East.
Risk aversion gripped markets as the U.S. 10-year Treasury yield briefly reached 5 percent for the first time since 2007 and oil prices climbed above $93 a barrel, stoking fresh concerns about inflation, interest rates and economic growth.
There were fears the Israel-Hama war may escalate into something of a broader regional crisis.
Israeli Defense Minister Yoav Gallant told troops gathered at the Gaza border on Thursday that they would soon see the Palestinian enclave "from inside."
The U.S. State Department issued a worldwide caution alert citing the "potential for terrorist attacks, demonstrations or violent actions against U.S. citizens and interests."
The benchmark S&P BSE Sensex dropped 231.62 points, or 0.35 percent, to 65,397.62, extending losses for a third straight session reflecting weak global sentiment.
The broader NSE Nifty index settled 82.05 points, or 0.42 percent, lower at 19,542.65.
Mid and smallcaps suffered big losses, with the respective indexes on the BSE falling 1 percent and 0.8 percent, respectively.
Cipla, Divis Laboratories, BPCL, Tata Steel and ITC fell 2-3 percent in the Nifty pack while TCS, SBI Life, IndusInd Bank and Kotak Mahindra Bank rose 1-2 percent.
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