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Business News/ Markets / Live Blog/  Market Highlights: Sensex sheds 230 pts, Nifty down 80 pts; ITC, HUL drag; TCS, Kotak Bank shine
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Market Highlights: Sensex sheds 230 pts, Nifty down 80 pts; ITC, HUL drag; TCS, Kotak Bank shine

Share Market Updates: The Indian stock market ended in the red amidst negative global cues with Sensex shedding 250 pts and Nifty 85 pts. HUL, Tata Steel and ITC lagged; Kotak Bank, IndusInd and TCS jumped. Almost all sectoral indices closed in red with FMCG, PSU Bank, Metal tanking the most.

Sensex Today | Share Market Updates: Middle East tension will keep markets under pressure on Friday (MINT)Premium
Sensex Today | Share Market Updates: Middle East tension will keep markets under pressure on Friday (MINT)

Share Market Updates: Markets continued to feel pressure with FMCG segment witnessing action as ITC and HUL shed after a lukewarm quarterly report, while Nestle India along with Kotak Bank and TCS.

Negative global cues along with oil prices and treasury yields kept investor sentiments low. 

Meanwhile, RBI Governor Shaktkandta Das, on Friday, said interest rates will remain high at the moment and he refrained from telling for how long interest rates will remain at elevated levels.

Asian shares retreated Friday as the prospect of a 5% yield on the 10-year US Treasury for the first time since 2007 added to pressure on Wall Street.

Oil prices settled higher on Thursday as traders remained nervous that Israel's military campaign in Gaza could escalate to a regional conflict. Yields on 10-year US government bonds gained for a fourth day, closer to reaching 5% for the first time since 2007.

20 Oct 2023, 07:29:40 AM IST

Sensex Today Live | Share Market Updates: Wall Street falls after 10-year yield climbs to the cusp of 5%

Wall Street fell Thursday as it faces the prospect of a 5% yield on the 10-year Treasury for the first time since 2007.

The S&P 500 lost 36.60 points, or 0.8%, to 4,278.00 following a mixed set of profit reports from Tesla and other influential companies The Dow Jones Industrial Average dropped 250.91, or 0.7%, to 33,414.17, and the Nasdaq composite sank 128.13, or 1%, to 13,186.18.

Stocks felt pressure from the bond market, where rapidly rising yields have been squeezing Wall Street since the summer. The yield on the 10-year Treasury touched 4.99%, up from 4.91% late Wednesday, before paring its gain to 4.98%. As the reference point for much of the financial world, the 10-year yield helps set prices for all kinds of investments and loans.

Yields swung after the Federal Reserve's chair said again that the central bank will watch how the economy and inflation trend before making upcoming decisions on interest rates. It's already pulled its main overnight interest rate to the highest level since 2001, and the 10-year Treasury yield has been catching up. (AP)

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