Thursday, July 11, 2024
Home News Sensex today falls over 800 points, Nifty below 17,000

Sensex today falls over 800 points, Nifty below 17,000

Benchmark Sensex and Nifty fell on Monday as a result of subpar global cues and ongoing worries about contagion risk in the global banking system, despite UBS Group’s acquisition of troubled Credit Suisse. The Nifty 50 dropped under 17,000 while the BSE Sensex was down over 800 points at 57,177.

According to economists, investors are attempting to grasp how fast the economy can slow down and whether the banking sector problems would be a ‘rapid slow down’.

“An immediate response from governments and central banks appears to have significantly reduced concerns about a financial crisis stemming from the banking crises in the US and Europe. There is no sign of a panic like there was in 2008 with the volatility index in the US hovering around 25. Investors might, however, exercise caution and wait for stability. A decrease in the trade imbalance and a significant drop in Brent crude to $73 have a beneficial impact on India’s macroeconomics “He referred to Dr. VK Vijayakumar, the chief investment strategist at Geojit Financial. Services.

The release of information about how banks borrowed $165 billion from the Federal Reserve last week and the bankruptcy filing of SVB Financial Group caused US equities to teeter downward on Friday. These events raised concerns about the viability of the banking sector. Despite coordinated attempts by global central banks to ease the impending banking crisis, the majority of Asian markets fell.

In a deal approved by Swiss authorities, UBS said over the weekend that it will acquire Credit Suisse for 3 billion francs ($3.2 billion) and take on losses of up to $5.4 billion. Investors are cautious about a variety of risks, including contagion, the flimsy condition of American regional banks, and moral hazard, according to experts.

“Traders anticipate that the banking crisis could result in significant interest rate reductions next year, which could put markets in a precarious position ahead of this week’s Federal Reserve meeting. Investors are being warned about possible restrictions in a quick increase. Market turmoil could result from the US Fed meeting’s unexpected outcome, according to Deepak Jasani, head of retail research at HDFC Securities.

Also Read: Reliance Industries shares fall to new 52-week low. Key levels to watch

RELATED ARTICLES

Markets end FY23 in style; Sensex Nifty rally nearly 2% on firm global trends

Market, The final day of the fiscal year 2022-23 saw gains for benchmark indices, with a gain of nearly 2% on Friday, extending gains for...

Day trading guide for today: 6 stocks to buy or sell on Friday — 31st March

Trading, Day trading guide for today: Indian shares gained on Wednesday as global markets' increased risk appetite was aided by easing in the banking industry....

Financial, IT stocks aid Indian shares snap three-month losing streak

Financial, By Bharat Rajeshwaran BENGALURU (Reuters) - Indian shares rose on Friday, supported by a higher weighting of financial stocks and information technology (IT) stocks,...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

SIGNUP & GET $10000 BONUS

Most Popular

Trading the Inside Bar Pattern on Pocket Option Platform

Inside Bar Pattern Introduction Price movement on a chart is examined in price action trading. You may use candlesticks to predict where prices will move...

“Unlocking the Secrets: 4 Tricks of Successful Traders on Pocket Option Platform”

For a year, I have been trading on the Pocket Option platform. I sometimes succeed and sometimes fail. However, I was confident that if...

Identifying Mistakes That Lead to Losses on Pocket Option

Why do people lose their money when trading binary options New traders frequently take a significant financial risk while trading binary options. As a result,...

Weekly Income Plan on Pocket Option Platform”

Get weekly returns on Pocket Option It turned out that October was a terrific month for me. I am still able to generate money every...

Recent Comments