Indian shares gave up early
gains to trade lower on Tuesday as a rise in consumer companies
was offset by a fall in financials and auto stocks, with
volatility rising to its highest in fifteen.
Sensex, Nifty end lower, volatility index hits a 15-month high vccircle.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vccircle.com Daily Mail and Mail on Sunday newspapers.
Share Market Highlights 7 May, 2024: Sensex and Nifty close lower amidst sectoral weakness; FMCG stocks gain over 2% thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
The Indian equity market valuation has been moving in tandem with the US 10-year treasury yield.
While the benchmark US bond yield has witnessed a nearly 70 basis point decline since the end of October this year, dropping from 4.93 per cent to 4.23 per cent on Friday, the Sensex earnings yield has slipped by nearly 45 basis points - from 4.5 per cent to 4.05 per cent.
Previously, Indian equities earnings yields rose in sync with the US bond yields.