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Listen to this article in summarized format According to BSE data, the combined market capitalisation of listed companies declined to $4.92 trillion, a level last seen on June 11. Market value has fallen by nearly $380 billion from around $5.3 trillion at the beginning of the year. India's share of global market capitalisation stood at around 2.95%, its lowest since June 3. Read more: Sebi plans shorter disaster recovery drills, stronger backup rules for exchanges "Higher oil prices are reviving inflation concerns, while heavy government borrowing globally is pushing bond yields higher," said Kresha Gupta, director & fund manager, Steptrade Capital. "At the same time, expectations of interest rate cuts are fading, which means investors are demanding higher yields to hold bonds. As yields rise, equities become relatively less attractive, particularly in emerging markets like India." Read more: Prashant Jain’s 3P India among anchors as Hero Motors raises Rs 300 crore ahead of IPO The yield on the benchmark 10-year US Treasury rose to 5.041%, its highest since 2007, on Tuesday as rising oil prices fuelled inflation concerns. Brent crude rose above $108 a barrel on Tuesday amid concerns over oil supplies after Saudi Arabia's East-West Pipeline was shut following attacks on the country's energy infrastructure. Investors will take cues from the US Federal Reserve's policy meeting on September 16, followed by the Bank of England on September 17 and the Bank of Japan on September 18. Expectations of interest rate hikes have increased after US inflation came in stronger than expected, adding to the upward pressure on rising bond yields. The Nifty MidCap 100 fell 2.1% to a three-month low, closing at 60,878.25, a level last seen on June 12. The Nifty SmallCap 100 slumped 2.4% to end at 19,422.45, its lowest in about one-and-a-half months and a level last seen on July 31. Of the 4,667 stocks traded on the BSE, 3295 declined and 1,159 advanced. All major sectoral indices ended lower except the Nifty IT, which gained 2.2%. Nifty Realty was the biggest loser, falling more than 4%, while Nifty Metal, Auto and Pharma declined more than 2% each. "Indian equities are likely to remain weak amid elevated crude prices, renewed inflation concerns and uncertainty ahead of the US Federal Reserve's policy decision," said Siddhartha Khemka, head of research, Wealth Management, Motilal Oswal Financial Services. India has lost ground in its share of global market capitalisation this year, while the US, Taiwan and South Korea have increased their shares. The US gained more than one percentage point, with its share rising to 48.82% from 47.78% at the beginning of the year. Taiwan and South Korea followed, with their shares increasing by 0.9 percentage point and 0.8 percentage point to 3.08% and 2.58%, respectively. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
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