Sensex falls 554 pts, Nifty below 18,150 amid rising bond yield, oil prices

In the intra-day trade, the indices hit a low of 60,662 and 18,086, respectively

Closing Bell

Equity markets turned sharply lower in the fag-end of the session as weak global cues gave ammunition to the bears on Dalal Street. The 10-year US Treasury yield jumped to its highest point in two years, topping 1.83 per cent. The yield on Indian 10-year bond, however, was down 0.2 per cent at 6.6 per cent. 

Nonetheless, the move indicates that global investors are preparing for the possibility of more aggressive tightening by the Federal Reserve.

Meanwhile, in the commodity market, international benchmark Brent crude futures rose 1.6 per cent to $87.89 a barrel, while US West