Sensex, Nifty slump for the third straight day on inflation fears

India’s benchmark indices fell about a per cent for the third straight day on Friday as investor sentiment turned negative with rising bond yields and global oil prices.

The Sensex again slipped below the 60,000 mark and ended the session at 59,464, a decline of 634 points, or 1.06 per cent. The Nifty, on the other hand, dropped 181 points, or 1.01 per cent, to close at 17,757.

In the last three sessions, the Sensex has lost 1,844 points, or 3 per cent. After the three-day sell-off, India’s year-to-date gain has narrowed to 2.1 per cent from 5.2 per cent at the