Share Market HIGHLIGHTS: Sensex ends wild day on D-Street 1,273 pts below day's high, Nifty50 gives up 17,200
Stock Market LIVE Today: Indian equity benchmarks Sensex and Nifty50 suffered steep losses on Monday mirroring weakness across global financial stocks as the collapse of startup-focused Silicon Valley Bank (SVB) continued to batter investor sentiment. HSBC acquired the UK subsidiary of Silicon Valley Bank for one pound, saying it expects SVB UK's tangible equity to be around 1.4 billion pounds.
What Zee Business Managing Editor Anil Singhvi makes of the market today
Catch minute-by-minute updates in the Indian share market, LIVE market commentary and analysis only on Zeebiz.com's blog here, besides the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations:
Stock Market LIVE Today: Indian equity benchmarks Sensex and Nifty50 suffered steep losses on Monday mirroring weakness across global financial stocks as the collapse of startup-focused Silicon Valley Bank (SVB) continued to batter investor sentiment. HSBC acquired the UK subsidiary of Silicon Valley Bank for one pound, saying it expects SVB UK's tangible equity to be around 1.4 billion pounds.
What Zee Business Managing Editor Anil Singhvi makes of the market today
Catch minute-by-minute updates in the Indian share market, LIVE market commentary and analysis only on Zeebiz.com's blog here, besides the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations:
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Share Market Update | Sensex ends volatile day 897 pts lower, loses over 2,100 pts in three days; Nifty50 gives up 17,200
Both headline indices finish the day 1.5 per cent lower.
Here's how the main indices moved through the day:
Sensex
The Sensex sheds 897.3 points lower at 58,237.9.
Nifty50
The 50-scrip index settles at 17,154.3, down 258.6 points from its previous close.
Global Market LIVE | Europe markets plunge dragged by banking shares as Silicon Valley Bank (SVB) market turmoil continues
Bank shares across Europe and Asia plunge as the collapse of startup-focused Silicon Valley Bank continues to batter markets. The pan-European Stoxx index is down 2.3 per cent at this hour, with the banking gauge down 4.3 per cent.
The Stoxx banking index is on track for its biggest two-day fall since Russia began its invasion of Ukraine in February 2022.
HSBC acquires UK subsidiary of Silicon Valley Bank (SVB) for one pound
HSBC says it is acquiring the UK subsidiary of Silicon Valley Bank for one pound. "This acquisition makes excellent strategic sense for our business in the UK," says HSBC CEO Noel Quinn.
The move comes after US authorities moved to shore up deposits and stem any wider fallout from the sudden collapse of its parent, tech start-up lender Silicon Valley Bank.
As of March 10, Silicon Valley Bank UK had loans of around 5.5 billion pounds and deposits of around 6.7 billion pounds, according to HSBC.
SVB UK's tangible equity is expected to be around 1.4 billion pounds, it adds.
Share Market LIVE Today | SCI demerger record date to be fixed next week; stock rises
Shipping Corporation of India (SCI) shares hold on to the green after the company says its board will meet on March 20 to decide a record date for a proposed demerger of its non-core assets.
The stock of the divestment-bound Shipping Corp gain by as much as Rs 7.8 or 6.4 per cent to Rs 129.2 apiece on BSE.
Read more on SCI share price, record date
Global Surfaces IPO subscribed 24% so far on Day 1; retail portion bookd 38%
The initial share sale of Global Surfaces, a company engaged in the processing of natural stones and the manufacturing of engineered quartz, sees subscription of 24 per cent so far today — the first day of the bidding process. The company aims to raise up to Rs 155 crore through the IPO.
As of 2:25 pm, the Global Surfaces IPO receives bids for 18.5 lakh shares as against the 77.5 lakh shares on offer, according to provisional exchange data.
Category
Subscription
Reservation
QIB
Nil
50%
NII
23%
15%
Retail
38%
35%
Overall
24%
Category | Subscription | Reservation |
QIB | Nil | 50% |
NII | 23% | 15% |
Retail | 38% | 35% |
Overall | 24% |
Share Market LIVE Today | Buy ONGC, sell Canara Bank futures, says Nirav Chheda
Nirav Chheda of Nirmal Bang Securities shares two recommendations with Zee Business viewers:
- Sell Canara Bank futures for a target of Rs 275 with a stop loss at Rs 306
- Buy ONGC for a target of Rs 170 with a stop loss at Rs 152
Share Market LIVE Today | Buy ONGC, sell Canara Bank futures, says Nirav Chheda
Nirav Chheda of Nirmal Bang Securities shares two recommendations with Zee Business viewers:
- Sell Canara Bank futures for a target of Rs 275 with a stop loss at Rs 306
- Buy ONGC for a target of Rs 170 with a stop loss at Rs 152
Share Market LIVE Today | Buy ONGC, sell Canara Bank futures, says Nirav Chheda
Nirav Chheda of Nirmal Bang Securities shares two recommendations with Zee Business viewers:
- Sell Canara Bank futures for a target of Rs 275 with a stop loss at Rs 306
- Buy ONGC for a target of Rs 170 with a stop loss at Rs 152
Share Market LIVE Today | Buy ONGC, sell Canara Bank futures, says Nirav Chheda
Nirav Chheda of Nirmal Bang Securities shares two recommendations with Zee Business viewers:
- Sell Canara Bank futures for a target of Rs 275 with a stop loss at Rs 306
- Buy ONGC for a target of Rs 170 with a stop loss at Rs 152
Share Market LIVE Today | Buy ONGC, sell Canara Bank futures, says Nirav Chheda
Nirav Chheda of Nirmal Bang Securities shares two recommendations with Zee Business viewers:
- Sell Canara Bank futures for a target of Rs 275 with a stop loss at Rs 306
- Buy ONGC for a target of Rs 170 with a stop loss at Rs 152
Share Market LIVE Today | Nifty Bank cracks below 40,000 for fist time in two weeks
The banking index slides below the psychologically-important 40,000 mark in intraday trade for the first time since February 27.
Index | Change (%) |
INDUSINDBK | -6.2 |
AUBANK | -3.8 |
FEDERALBNK | -1.8 |
SBIN | -1.8 |
BANDHANBNK | -1.7 |
PNB | -1.6 |
IDFCFIRSTB | -1.5 |
AXISBANK | -1.4 |
KOTAKBANK | -1 |
BANKBARODA | -0.8 |
HDFCBANK | -0.7 |
ICICIBANK | -0.3 |