Sensex falls over 250 points as Nifty closes below 22,650
In short
Indian stocks were weak after a strong rally before. The Sensex fell by more than 250 points, and the Nifty ended below 22,650. IT shares went up, but pharma shares fell.
Higher US bond yields and crude oil prices worried traders. Short-covering and hopes for tax relief helped a bit, but it is still unclear what happens next.
What the reporting says
Indian equities traded nearly flat after a sharp rally in the previous session, with the Sensex falling over 250 points and the Nifty closing below 22,650. The move came as IT stocks extended gains while pharma shares declined, and analysts pointed to elevated US bond yields and crude oil prices as headwinds. Short-covering and hopes of tax relief supported sentiment, but the next move remains uncertain.
Why it matters
Indian equities were mixed in the session, with the Sensex down more than 250 points and the Nifty ending below 22,650. The publisher summary said IT stocks kept rising while pharma shares fell. Analysts cited elevated US bond yields and crude oil prices as pressures, while short-covering and hopes of tax relief offered support. The immediate impact was cautious trading on Dalal Street, but the next direction was not stated.