From the clipping
“Rising US yields amid higher crude prices tend to trigger outflows of short-term foreign capital.”
On the 23,600 test
Nifty closed 144 points lower at 23,635, with domestic longs and FPI shorts sitting on opposite sides of the same support. The desk point in Mint was the external tape behind that split: higher US yields and crude raise the cost of keeping short-term foreign money in the market, which is the flow that shows up first when those two move together.
The excerpt above is from Shai Coelho's remarks as published in Mint. The print clipping is shown as it appeared; the full piece is at Livemint. Market commentary is educational and observational; it is not investment advice or a trading recommendation.