Tech drags Indian shares lower as rising U.S. yields hit global equities
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BENGALURU - Indian equities fell on Wednesday, with technology stocks leading the decline, as Asian peers slid after U.S. Treasury yields hit two-year highs, although gains in non-bank lender Bajaj Finance after strong results plugged losses.
The blue-chip NSE Nifty 50 index was down 0.24% at 18,070.45 by 0352 GMT, while the S&P BSE Sensex edged 0.24% lower to 61,607.02.
The Nifty IT index was the worst hit among sub-indexes, tumbling 1.6% to its lowest since late-December. IT major Infosys slid 1.7%.
Heavyweight lender Bajaj Finance gained as much as 3% after it reported a surge in quarterly profit.
A global technology stock sell-off overnight spooked Asia's share markets on Wednesday, as investors worried about inflation and braced for tighter U.S. monetary policy. [MKTS/GLOB]
