Sensex, Nifty tumble after gaining over 2% in previous session

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 9:30 am.

Indian shares fell on Wednesday, after gaining more than 2% in the previous session, pressured by financial stocks, as rising US 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 9:30 am. Both the indexes were on track to post their second straight monthly gains. The 10-year US Treasury yield rose to 1.776% on Tuesday, its highest since January 2020.