Yields on US bonds are trending upwards after the Fed announced a ‘hawkish pause last week, cementing expectations of higher interest rates for longer. The narrowing spread between Indian and US bond yields is also likely to impact inflows into the country.
“Nifty continued to exhibit strength as the index reached new highs due to large-cap banks and IT stocks. Strong Put writing at 20,100 has further bolstered positive sentiment in the market.”