New Delhi: Domestic equity investors’ wealth eroded by over Rs 4.43 lakh crore on Monday as fears of a financial crisis over one of the biggest bank failures in the US weighed on market sentiment.
After a strong opening, Indian stock benchmarks closed nearly 900 points lower at 58,237.85 with the 30-share BSE Sensex – sliding for the third straight trading session.
nse nifty The BSE also fell 258.60 points to close at 17,154.30.
Reflecting massive selling across sectors, the total market valuation of BSE-listed companies stood at Rs 2,58,56,295.60, giving investors a loss of Rs 4,43,023.89 compared to Friday’s closing level.
The total market valuation stood at Rs 2,62,99,319.49 at the end of trading on Friday, when the major indices fell over 670 points.
Of the 3,757 stocks that traded on the BSE, 2,915 closed in the red, while 695 managed gains.
As per the data available on the exchange, a total of 219 scrips touched their 52-week low, while 75 touched their 52-week high.
failure of Silicon Valley Bank Concerns have arisen about the financial system in the US, although the relevant regulatory authorities are working on ways to manage the situation. The crisis also comes at a time when central banks are adopting a tighter monetary policy regime to combat high inflation.
Deepak JasaniThe collapse of the startup-focused Silicon Valley bank continued to hurt European and some Asian markets, while there was a brief pre-market rally after US big bank executives moved to contain the contagion, said the head of retail research at HDFC Securities. failed to stop the rally.
“The fall in shares comes despite news that HSBC had agreed to buy the British arm of the troubled US tech startup-focused lender for £1,” he added.
He also cited that Goldman Sachs Group Inc. U.S. economists have said they no longer expect the US Federal Reserve to hike rates next week.
“The risk of a banking crisis highlights the tension between the Fed’s efforts to cool the economy and reduce inflation, with growing concerns that a 4.5 percentage point rate hike in a one-year span could lead to a recession and a decline in riskier assets.” Will come.” noted.
After a strong opening, Indian stock benchmarks closed nearly 900 points lower at 58,237.85 with the 30-share BSE Sensex – sliding for the third straight trading session.
nse nifty The BSE also fell 258.60 points to close at 17,154.30.
Reflecting massive selling across sectors, the total market valuation of BSE-listed companies stood at Rs 2,58,56,295.60, giving investors a loss of Rs 4,43,023.89 compared to Friday’s closing level.
The total market valuation stood at Rs 2,62,99,319.49 at the end of trading on Friday, when the major indices fell over 670 points.
Of the 3,757 stocks that traded on the BSE, 2,915 closed in the red, while 695 managed gains.
As per the data available on the exchange, a total of 219 scrips touched their 52-week low, while 75 touched their 52-week high.
failure of Silicon Valley Bank Concerns have arisen about the financial system in the US, although the relevant regulatory authorities are working on ways to manage the situation. The crisis also comes at a time when central banks are adopting a tighter monetary policy regime to combat high inflation.
Deepak JasaniThe collapse of the startup-focused Silicon Valley bank continued to hurt European and some Asian markets, while there was a brief pre-market rally after US big bank executives moved to contain the contagion, said the head of retail research at HDFC Securities. failed to stop the rally.
“The fall in shares comes despite news that HSBC had agreed to buy the British arm of the troubled US tech startup-focused lender for £1,” he added.
He also cited that Goldman Sachs Group Inc. U.S. economists have said they no longer expect the US Federal Reserve to hike rates next week.
“The risk of a banking crisis highlights the tension between the Fed’s efforts to cool the economy and reduce inflation, with growing concerns that a 4.5 percentage point rate hike in a one-year span could lead to a recession and a decline in riskier assets.” Will come.” noted.
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