BSE Sensex dropped over 1,200 points from day’s high to 58,297.86, whereas Nifty 50 dropped about 350 points to 17,169.05 on a volatile day of trading Indian equity markets took a sharp ‘U-turn’ on Monday as benchmark indices sank into deep red on Monday, despite a positive opening.. Bears were back as jittered global sentiments weighed on the feeble investor sentiments, pushing the markets further lower.
BSE Sensex dropped over 1,200 points from day’s high to 58,297.86, whereas Nifty 50 dropped about 350 points to 17,169 during the session. Weakness prevailed in the broader market as well as BSE Mid-cap and Small-cap indices plunged up to 2 per cent each.
Investors at Dalal Street went poorer by another Rs 3.04 lakh crore as combined market capitalization of all BSE listed companies dropped to Rs 259.90 lakh crore, which ended at Rs 262.94 lakh crore on March 10, 2023. Here are the top factors that are weighing on market sentiments:
SVB Bank Crisis: The fallout of startup lender Silicon Valley Bank is weighing on the market sentiments. Traders across the globe are sensing the ‘Deja-Vu’ of 2008, when investment bank Lehmon Brothers went bankrupt, leading to a global recession. However, US authorities have moved to shore up deposits and stem any wider fallout from the sudden collapse of the tech startup lender.
