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Below the Quote on Daily Market by Vikram Kasat - Chief Business Officer – Advisory and Dealing at PL Capital

“Indian equities witnessed a sharp reversal today, with the Sensex falling around 778 points and the Nifty closing below 23,150, as elevated crude oil prices and rising global bond yields weighed on sentiment. Brent crude remained above $108 a barrel, while the US 10-year Treasury yield crossed the 5% mark, strengthening expectations of a higher-for-longer interest-rate environment. Persistent FII selling added to the pressure, although IT stocks outperformed and HDFC Bank gained following developments around its CEO succession. Going ahead, markets are likely to remain volatile, with crude, global yields, FII flows and the US Fed decision remaining key triggers.”

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