Nifty witness sharp reversal from highs of 15900 and ended in the red after India 10-year bond prices suddenly fell more than 0.5% to close at day\u2019s low. The sharp sell-off in bond prices also had an impact on Rupee with USDINR ending above 74.50 and is now positioned to cross 76 in the next few days. For Nifty, the two- weeks of trading range may see major breakdown below 15,620 on a closing basis. Although, Nifty Bank was able to put up gains close to 1% despite negative action in bond market. But this divergence may be temporary and Nifty Bank may come under severe pressure below 34,900.<\/p>\n\n\n\n
Asian shares stumbled on Wednesday as a bout of risk aversion boosted bonds and the dollar, while investors braced for minutes from the Federal Reserve’s last meeting which should underline a hawkish turn in U.S. monetary policy. Minutes of the Fed’s June policy meeting due later on Wednesday might show how serious members were about tapering their asset buying and how early hikes could begin.<\/p>\n\n\n