Markets see sell-off as global yields surge

Dalal Street is feeling the global jitters of rising yields, indicating cheap money bets are lowering and inflationary bets rise. Wall Street saw the biggest fall since October and the nervousness has spread to Dalal Street as well with the Sensex and Nifty both trading much lower on the final day of trade of the week.

Bond yields in the US have now surged back to the pre-pandemic levels and even though it indicates higher growth it signals possible inflation and cost of money rising. The Indian bond markets are also signaling the same. The rupee continues to trade significantly lower to the greenback while brokerages are raising their year-end target for the 10-year yield as well.

Financial and technology continuing to be the sore point on Dalal Street, mirroring global weakness in sectors.