Sensex slumps 800 points, Nifty below 24,600 as global sentiment sours
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Indian benchmark equity indices opened lower on Thursday, dragged by banking and IT stocks, as U.S. fiscal concerns and rising Treasury yields weighed on global investor sentiment. The BSE Sensex fell 812 points, or 1%, to 80,784, while the Nifty50 dropped 269 points, or 1.08%, to trade at 24,544 around 9:33 am. The total market capitalisation of all listed companies on the BSE fell by Rs 2.6 lakh crore to Rs 438.56 lakh crore. Most Asian markets fell in early trade, following overnight losses on Wall Street, as yields on 20-year U.S. government debt hit their highest level since November 2023. Investor sentiment has remained fragile since Moody’s downgraded the United States’ credit rating last Friday amid concerns over the country’s rising debt. Live Events Higher Treasury yields typically make bonds more attractive to foreign investors, prompting capital outflows from stocks in emerging markets like India.From the Sensex pack, Tech Mah...