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Sensex, Nifty End Slightly Lower As Global Bond Yields Rise
(RTTNews) - Indian shares ended slightly lower on Friday, tracking weak cues from global markets after a slew of strong U.S. economic data and the Bank of Japan's policy tweak sent global bond yields soaring.
While strong U.S. data helped ease fears of an imminent recession, it added to uncertainty about the outlook for interest rates.
Earlier today, the Bank of Japan adjusted its bond purchase policy -marking a step toward allowing interest rates to rise.
The benchmark S&P BSE Sensex ended the session down 106.62 points, or 0.16 percent, at 66,160.20- tracking a rebound in the dollar index and Treasury yields.
The broader NSE Nifty index dropped 13.85 points, or 0.07 percent, to close at 19,646.05.
Financials and IT stocks succumbed to selling pressure, with HCL Technologies, TCS, HDFC Bank and Bajaj FinServ falling 1-2 percent.
PSU stocks were in favor, with NTPC and Power Grid Corp climbing 3.8 percent and 3 percent, respectively.
Among other prominent gainers, Mahindra & Mahindra, Adani Ports and Apollo Hospitals Enterprise rose 1-2 percent.
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