Equities slip on high crude oil prices; Realty stocks fall
India’s benchmark equity indices ended Monday’s trade session on a flat-to-positive note even as high crude oil prices along with rising bond yields subdued sentiments.
Accordingly, the two key indices had a gap-up opening, subsequently they rose to make respective intra day highs but fears of inflationary pressures due to high oil prices spooked investors. Globally, Asian shares broadly reversed course to trade lower on Monday as higher crude oil prices raised inflation worries.
On the other hand, European stocks rose with bond yields near one-year highs as the world’s largest economy was on the verge of adding $1.9 trillion in stimulus.
Besides, volumes were below recent averages signalling lower institutional participation.On Monday, FIIs pulled out Rs 1,494.49 crore from the Indian markets.
