Indian Equity Markets facing the heat of rising US 10 year bond yields - yesterday approx 8.4 trillion rupees got wiped out in a 1.5% fall in Nifty and Sensex

 

24th January, 2024

The US 10 year bond yield closed at 4.126% as of yesterday from a low of 3.789% on 27th December, 2023.

Due to this, FIIs have already sold Indian equities worth Rs. 23000 Cr. in January.

Adding to the worries, is the high valuation at which Indian equities are trading.

The yesterday's sell off was led by banks, fmcg, oil & gas and metals.

Also the Nifty Media saw a 13% fall as the Zee Entertainment Enterprises fell 30%, as the $10 billion merger with Sony Pictures Networks collapsed.