Dalal Street slumps on oil spike, bond rout & Irda jolt

The Indian stock market, known as Dalal Street, has fallen due to a surge in oil prices, a decline in bond values, and a shock from the Insurance Regulatory and Development Authority of India, or Irda. This downturn is partly caused by rising oil prices and a jump in US bond yields, which can make imports more expensive for India and increase inflation. The market is also concerned about the impact on global liquidity and India's import bill, which could affect the economy.

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The US 10-year Treasury yield moved above 5. 10%, and Brent crude remained above $102 a barrel, raising concerns over global liquidity, inflation, and India's economy.

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