Rising bond yields across the U.S., Europe and Asia, coupled with a surge in crude oil, rattled investors and pushed the Sensex to a 2‑year low of 71,910. A late‑session buying spree nudged the index back up 571 points before it closed at 71,910, a 0.8% decline.
FPIs sold ₹9,484 crore in a single session, adding to a cumulative outflow of ₹29,339 crore over four sessions, according to the NSE’s daily transaction report. The outflows have amplified the downward pressure on the market.
This dip marks the first eight‑week streak of lower weekly closes for both the Sensex and the Nifty in 25 years, a trend flagged by the NSE’s weekly summary. Risk‑averse traders are bracing for further volatility.
Sector‑wise, IT and pharma fell 3.2% and 2.8% respectively, while banks gained 0.9%. The overall market sentiment remains bearish as yield curves steepen and the rupee weakens.
Analyst Rohan Mehta of HDFC Securities cautioned that higher yields could keep pressure on equities and advised investors to monitor upcoming earnings releases and RBI policy cues. The market may test support around the 70,000 mark before the next earnings cycle kicks in.