Daily Market Review
Market Pulse: Downtrend
After floundering for most of the day, markets recovered mildly in the last hour to close with still heavy losses on higher volume. Nifty pierced August 2019 lows and made a fresh 52-week low. Brent crude price has declined sharply to less than $35 per barrel with Russia and Saudi Arabia preferring volume over value strategy. European markets opened with a 6–8% loss on benchmark indices. U.S. stock futures are also trading with a ~5% loss. U.S. 10-year treasury yield continued to slide lower, dropping to a new low of 0.34%. India’s 10-year government bond yield breached a 6% mark.