18.03.2021 | Markets fall over 1% despite dovish Fed comments

Indian markets pared its early optimism and fell into a sharp correction as US bond yields rose to its highest level since January on Thursday. Dovish comments from the US Federal Reserve chief on the strong economic bounce back and continuation of its accommodative stance, could not weigh down the rally in the US bond market. Indian markets saw higher volatility compared to its global peers as domestic investors turned extra cautious on increasing covid cases in India. The BSE Sensex ended at 49,216.52, down 585.10 points or 1.17%. The Nifty closed at 14,557.85, down 163.45 points or 1.11%.