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Silicon Valley Bank shut down, Indian startups hit hard; 400 crore stuckPressure on shares in all sectors
In today’s trade, pressure was seen on Infra, IT, FMCG shares. Selling was seen in metal shares, pharma, energy, banking, cars, realty. Small-cap stocks also saw selling pressure today and mid-cap and small-cap stocks declined. BSE midcap index fell by 1.82 percent and small cap index by 2.08 percent today.
The Sensex closed 897.28 points, or 1.52 per cent, at 58,237.85 at the end of today’s trade. At the same time, Nifty closed 258.60 points or 1.49 percent at 17,154.30. IndusInd Bank, SBI, Tata Motors, Adani Ports and Eicher Motors Nifty fell in today’s trade. While shares of Tech Mahindra, Apollo Hospitals, ONGC and HUL were higher.
SVB Crisis: A Growing Threat; Avoid Silicon Valley Bank, hang a sword on Indian startups
Losing investors
Stock market investors have lost around Rs 6.6 lakh crore in the last three trading sessions, where the Sensex has fallen over 2,000 points. Investors have lost around four lakh rupees on Monday alone. The market cap of BSE listed companies fell to Rs 258.95 lakh crore in Monday’s trading session. Last Friday it was Rs 262 lakh crore.
A cautious start to the major indexes, these penny stocks hit the top circuit
News of the collapse of Silicon Valley Bank had a negative impact on equity markets around the world. There was a big fall in the shares especially in the banking sector. On Monday, banking sector stocks were seen trading with weakness in the Indian stock markets. However, analysts believe that the regulatory framework is too strong for Indian banks.
Main Reasons for the Fall in the Stock Market on the First Trading Day of the Week
- Negative signals from global markets
- Bankruptcy of Silicon Valley Bank and Signature Bank in America
- The impact of SVB’s fall added pressure on Indian banking stocks
- Weakness in shares of giants like Reliance, TCS and ITC
- Rupee weakness against dollar
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