Indian shares slip on bond yield worries; energy stocks rise

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Indian shares fell for a second straight session on Friday as rising U.S. Treasury yields spooked equity investors, although a jump in oil explorers on higher crude prices limited losses.

FILE PHOTO: People walk past the Bombay Stock Exchange building in Mumbai, India, November 4, 2020. REUTERS/Francis Mascarenhas/File photo

Still, both the indexes were set to add more than 3.5% for the week thanks to positive economic growth data and progress in the country’s COVID-19 vaccination campaign. “Chances of foreign investors pulling out some money from emerging markets like India have strengthened as U.S. bond yield increases,” said Gaurav Garg, head of research at CapitalVia Global Research.

Private-sector lenders ICICI Bank and HDFC Bank were the biggest drags on the Nifty 50 on Friday, declining 2.5% and 2%, respectively. The Nifty Bank Index lost 1.9%.

 

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horrible

prob just slipped on poo on the street

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