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Nifty Could Again Decline Tomorrow as US Bond Yields Creeps up Again – India

By Aditya Raghunath — Yesterday’s heroes are today’s villains. Metal stocks fell and they dragged and the along with them. Nifty ended down 1.08% and Sensex was down 1.16% as they fell 165 points and 599 points respectively.

JSW Steel (NS:) lost close to 3% today followed by HDFC (NS:) that ended lower 2.64%. Hindalco lost 2.63%, Tata Steel (NS:) lost 2.52% and Tata Motors (NS:) ended 2.44% at day’s close. fell below the 36,000 mark again as it lost 1.56% today.

Ultratech Cement (NS:) led the winner’s list as it ended 3.92% up today, followed by Adani (NS:) Ports at 2.97% Shree Cement at 2.91% and Grasim (NS:) at 2.66%.

Markets opened weak following global cues and the trend was similar in stock markets globally. In Asia, Nikkei closed down 2.13%, Kospi was down 1.28% and the China Composite was down 2.05%. Europe has also opened lower with down 1.3%, CAC down 0.5% and Dax down 0.77%.

US futures are down as yields on US T-Bills are creeping up again, and markets are exiting tech stocks. , and are down 0.41%, 0.54% and 0.59% respectively.

prices have dipped and are trading at $60.77 as of this report. OPEC+ is meeting to decide if production cuts need to roll over to April or will more oil be pumped. From the looks of it, Saudi Arabia wants to continue with the cuts.