Sensex closes 627 points lower as D-Street halts 2-day rally amid rising yields

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Sensex closes 627 points lower as D-Street halts 2-day rally amid rising yields


NEW DELHI: Rising bond yields and a weakening rupee marred the risk appetite of investors on Wednesday, with benchmark indices snapping a two-day rally. Defensive stocks were in demand while financials were crushed.

Broader markets, however, remained upbeat showing there is still some demand for stocks showing growth potential. Corporate earnings for the March quarter, which are likely to be better compared with the previous three-month period, also led to some buying.

The 30-share pack Sensex declined 627.43 points or 1.25 per cent to close at 49,509.15. Its broader peer NSE Nifty fell 154.40 points or 1.04 per cent to settle at 14,690.70.

Market at a glance

  • Nazara Tech slumps 7% on second day of trade
  • Va Tech Wabag rises 4% on financial closure of Patna project
  • IRB Infra surges 5% after company bags 2 highway projects
  • YES Bank tanks 6% on profit-booking as it enters Nifty Next50 index
  • Broader indices gain but market breadth remains in favour of losers



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