financial exchange today: The Indian stock market remained volatile today despite high expectations of a relief rally on Dalal Street following the Silicon Valley Bank (SVB) First Citizens Bankshare deal. The BSE Sensex and the 50-stock index Nifty are both trading in the 135-point range. Similarly, the Nifty Bank index is trading within a 250-point intraday range.
Experts on the stock market say that the market was hoping for a specific plan from the US government and the US Federal Reserve to deal with the US bank crisis. However, the problem is being addressed one bank at a time by the US central bank and the Joe Biden administration. He stated that as a result of the SVB First Citizens Bankshare deal, market sentiment has turned bearish due to the fact that it is a one-bank solution and does not address concerns regarding the US banking system’s decline.
SVB First Citizens Bank Deals
“Bank crisis in the US is one issue which has created concern on the entire banking system in the US,” Ravi Singhal, CEO of GCL Broking, stated regarding the reason why the stock market is currently volatile. Market was anticipating something following the FOMC meeting of the US Fed. Solid road map from the US Federal Reserve and the Joe Biden administration, but instead, the action response from the US central bank and administration is engaging in gimmickry. Dalal Street and other Asian markets have been marred by this. The current state of the markets is one of volatility. This is mostly because the US administration and the US Federal Reserve have gone above and beyond.”
“Today the market is in a range bound position,” said Sumeet Bagadia, Executive Director of Choice Broking, urging stock market investors to know their level and remain protected from market volatility. Today, the Sensex is trading between 57,000 and 58,800. The Nifty 50 index is between 16,800 and 17,200. Today, Nifty Bank is between 38,900 and 40,300. The range of major benchmark indices ought to continue to be the primary focus, given the volatility on Dalal Street.
stocks to buy today
“Pharma and FMCG stocks are a must watch as they are safe bets in the current stock market sentiments,” said Ravi Singhal of GCL Broking when he revealed the day’s trading strategy in the stock market today. Aurobindo Pharma and FMCG stocks are both attractive in the pharmaceutical industry. Marico and Dabur have the potential to provide their investors with substantial near-term returns in this sector. It is also possible to think about stocks of fertilizer, such as GNFC and Chambal Fertilizers.
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