News > Sensex, Nifty drop to over one-week lows on tech slump

Sensex, Nifty drop to over one-week lows on tech slump

India Today | 19/01/2022 06:05 PM | Click to read full article

Indian shares closed at their lowest in more than a week on Wednesday as rising bond yields globally sparked a selloff in technology stocks and non-bank lender Bajaj Finance slumped on valuation concerns. The blue-chip NSE Nifty 50 index fell 0.96% to 17,938.4 and the S&P BSE Sensex dropped 1.1% to 60,098.82.

Stocks in Asia and Europe were also lower as U.S. and European bond yields hit multi-year highs, leaving investors bracing for tighter monetary policy to tame surging inflation.