Bulls take a break: Sensex, Nifty fall for fourth day amid yield surge

Sensex down 2.4% in four sessions

The domestic markets fell for the fourth straight day on Friday as rising US bond yields dampened sentiment towards risky assets such as emerging markets. The Sensex ended 435 points, or 0.85 per cent, lower at 50,890, while the Nifty50 index gave up the 15,000 level, dropping 137 points, or 0.91 per cent, to 14,982. The Sensex has shed 2.4 per cent in the past four sessions.

The 10-year US Treasury yield has jumped from 1.07 per cent at the start of the month to 1.30 per cent as investors assess the full impact of Joe Biden’s $1.9-trillion stimulus plan. The