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Markets fall 1% on rising yields, global cues

Meanwhile, extending its gaining streak for the third day in a row, the rupee rose by another 12 paise to close at 72.79 against the US dollar on Friday.

By: ENS Economic Bureau | Mumbai |
March 13, 2021 5:04:01 am
The Sensex fell by 487 points to 50,792. (File)

Domestic markets on Friday fell nearly 1 per cent amid weak global cues and a spike in US bond yields. The benchmark Sensex fell by 487 points, or 0.95 per cent, to 50,792.08 and the Nifty50 declined by 144 points, or 0.5 per cent, to hit 15,030.95.

Triggering a sell-off in other markets, US benchmark 10-year yields rose as much as 8 basis points to cross 1.61 per cent. Market attention will now turn to the US Federal Reserve’s meeting next week, where traders will be looking for any comments about rising yields, analysts said.

Meanwhile, extending its gaining streak for the third day in a row, the rupee rose by another 12 paise to close at 72.79 against the US dollar on Friday.

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