Sensex Sheds Over 300 Points, Nifty Slips Below 14,750

Overnight, the U.S. stocks ended down slightly as investors sold tech-related growth shares after U.S. Treasury yields hit a 14-month high.

The benchmark indices have shaved off nearly a per cent at opening bell a day after racing ahead by more than 2 per cent as the market participants would have decided to take some profits off the table. At 9:17 am, the BSE Sensex was trading at 49,764, lower by 375.75 points or 0.79 per cent and the NSE Nifty was at 14,743.80, down 100.10 points or 0.69 per cent. Asian stocks have opened higher on March 31 as global financial shares retraced siome of their recent losses, driven in part by higher bond yields, and investors awaited a closely watched Chinese factory activity survey. Overnight, the U.S. stocks ended down slightly as investors sold tech-related growth shares after U.S. Treasury yields hit a 14-month high. The Dow Jones fell 0.31 per cent, the S&P 500 lost 0.32 per cent and Nasdaq Composite dropped 0.11 per cent.