Indian shares fall; Nifty near 22,600 as media stocks slide

Indian equity benchmarks traded sharply lower Tuesday morning, with the Nifty near 22,600, pressured by weak global cues, surging crude oil prices, and rising US bond yields. The monthly expiry of derivative contracts further dampened sentiment. The S&P BSE Sensex fell 615.61 points to 72,166.58, while the Nifty dropped 187.75 points to 22,594.50. Media shares saw selling pressure for a fifth consecutive session, with the Nifty Media Index down 1.70%. Market breadth was weak, with 2,664 declines versus 1,199 advances. Brent crude rose nearly 2% to $107.36 a barrel, and the US 10-year bond yield climbed to 5.265%. New listing Varmora Granito traded at a 3.72% premium over its issue price, while Rays of Belief surged 13.05% on improved quarterly profitability.