Mumbai, May 13 -- The domestic equity benchmarks took a breather on Tuesday, halting their previous session's rally. A spike in U.S. Treasury yields and crude oil prices triggered a wave of profit booking, reflecting a cautious tone among investors despite easing geopolitical tensions and relatively stable global cues.

Globally, sentiment brightened after the U.S. and China agreed to lower tariffs and enhance economic cooperation, a move that would typically lift emerging markets. But for India, the news was met with mixed reactions. Investors had earlier pinned hopes on prolonged US-China tensions leading global manufacturers to diversify supply chains toward India. With that tension easing, the "China-plus-one" tailwind seems to be fad...