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Stock market live: SGX Nifty flat; Asia-Pacific shares fall amid SVB crisis
Stock market live updates: As of 8:01 am, the SGX Nifty stood at 17,411 levels, down 28-odd points
Topics MARKET LIVE | Markets Sensex Nifty | Market trends
SI Reporter |
Last Updated at March 13, 2023 08:19 IST
Introduction
Domestic markets are likely to extend losses to the third consecutive day, amid grim global cues, following Silicon Valley Bank (SVB) crisis. As of 8:01 am, the SGX Nifty stood at 17,411 levels, down 28-odd points.
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Domestic markets are likely to extend losses to the third consecutive day, amid grim global cues, following Silicon Valley Bank (SVB) crisis. As of 8:01 am, the SGX Nifty stood at 17,411 levels, down 28-odd points.
The US-equity futures turned positive last evening after regulators sought to backstop all depositers in Silicon Valley Bank after customers withdrew over $42 billion worth of deposits. Dow Jones Futures, NASDAQ Futures, and the S&P 500 Futures retreated up to 1 per cent.
Asia-Pacific markets, however, edged lower this morning, as Nikkei 225, the S&P 200, Kospi, Kosdaq, and Topix indices fell up to 1 per cent.
In the commodities market, prices of Brent Crude, and WTI Crude declined up to 0.2 per cent to $82 per barrel, and $76 per barrel.
Back home, shares of M&M will be in focus as it is likely to sell a 4.6 per cent stake in Mahindra CIE Automotive through a block deal today.
Besides, shares of start-up companies may face some heat following the SVB fallout.