Sensex, Nifty Extend Decline as Crude and US Yields Pressure Markets

Indian equity benchmarks came under renewed selling pressure on Tuesday, September 29, with the Sensex falling more than 500 points and the Nifty slipping below the 22,700 level during early trade. Higher crude prices, elevated US Treasury yields and continued foreign investor selling weighed on market sentiment. Brent crude was trading around $106–107 a barrel, while the US 10-year Treasury yield moved above 5.2%.

Banking and other heavyweight stocks were among those facing pressure as investors assessed the impact of higher energy costs and global borrowing rates. The market is also tracking developments in the Middle East and currency markets, with the rupee coming under pressure against the US dollar.