Oil prices, US bond yields weigh on Dalal Street: 4 key reasons behind Sensex selloff

Indian stock markets came under sharp selling pressure on September 24, with the Sensex falling over 700 points and the Nifty slipping towards 23,200 in early trade. The selloff erased more than ₹4 lakh crore from BSE’s market capitalisation, as rising US Treasury yields, expectations of a Fed rate hike, higher crude prices and a weaker rupee weighed on sentiment. Brent crude moved above $102 a barrel, while the US 10-year Treasury yield climbed to around 5.11%. Investors are also watching the much-awaited NSE market debut. Here are four key factors behind the fall.