Rising US bond yields, oil price trim September stock market gains

After surging 5%, the Sensex ends the month only 2.7% up

Rising US bond yields and surging Brent crude price ate into the gains made by the markets during September. After rising as much as 5 per cent, the Sensex ended the month with just 2.7 per cent gain. On Thursday, the index fell for the third straight day due to sustained withdrawals by overseas investors amid a 25 basis points spike in the US bond yields in just five trading sessions.

The 30-share index last closed at 59,126, while the Nifty50 fell 17,618. The Sensex is down 1,286 points from Monday’s intraday high of 60,412. According to experts, global headwinds would