India Market Outlook: Why Global Yields, Not Crude, Could Derail The Earnings Recovery

Global market volatility and rising US bond yields could pose a fresh risk to India’s earnings recovery. Harendra Kumar, MD - Institutional Equities, Elara Capital, explains why investors should closely track global yields and foreign institutional flows. With the US 10-year yield rising and the yield gap between India and the US narrowing, any sharp correction in global markets could trigger pressure on emerging markets, including India. Kumar believes a phase of heightened global volatility could prolong the current recovery period and impact FII flows. He also highlights why global yields, rather than crude oil prices, remain a key variable for Indian markets. Watch the full conversation for his market outlook and key risks.