Ajit Mishra, SVP, Research at Religare Broking said, “Crude oil prices and rising global bond yields remained the key drivers of market sentiment. Brent crude moved close to $110 per barrel amid continuing Middle East tensions and supply concerns before cooling off towards the $104 mark, while the US 10-year Treasury yield rose above 5%, reaching its highest level since 2007. The combination raised concerns over imported inflation, corporate margins, the rupee and overall growth prospects.”
