Indices slip after US 10-year yield spikes; Sensex falls 482 points

Rising bond yields are considered to be negative for the equity markets, at least in the near-term.

The benchmark indices declined on Monday amidst weak global cues due to a sharp spike in the US Treasury yields. Investors also turned cautious ahead of the start of the results season. The benchmark Sensex fell 482 points to end the session at 58,964, a decline of 0.8 per cent. The Nifty, on the other hand, ended the session at 17,675, a decline of 109 points or 0.6 per cent.

The US 10-year bond yield traded above 2.75 per cent. Yields have shot up close to 100 basis points in the past one month due to concerns over rising inflation and