Indian shares fall weighed by financials

Indian shares fall weighed by financials

BENGALURU, March 31 (Reuters) – Indian shares fell on Wednesday, after gaining more than 2% in the previous session, pressured by financial stocks, as rising U.S. Treasury yields renewed concerns of foreign fund outflows.

The blue-chip NSE Nifty 50 index fell 0.8% to 14,727 and the benchmark S&P BSE Sensex dropped 0.7% to 49,823, as of 0400 GMT. Both the indexes were on track to post their second straight monthly gains.

The 10-year U.S. Treasury yield rose to 1.776% on Tuesday, its highest since January 2020.

The Nifty bank index fell 1.3% and the Nifty financial index dropped 1.5%.

Shares of Spicejet Ltd rose 2.6% after the company signed an agreement with Avenue Capital Group for the financing, acquisition, sale and leaseback of up to 50 aircraft.

Reporting by Nallur Sethuraman in Bengaluru; Editing by Amy Caren Daniel

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