Nifty may test 17,000 levels as SVB implosion stirs the ghosts of 2008

Selling pressure seen in banking, IT, and new-age stocks; foreign investors expected to be cautious

Sundar Sethuraman | Mumbai
Last Updated at March 13, 2023 06:00 IST

Stocks (Source: Bloomberg)

Seeing that the rapid unravelling of Silicon Valley Bank (SVB) is eerily reminiscent of Bear Stearns’ 2008 implosion, domestic markets are likely to tread lower over the next few sessions. Experts don’t rule out a fall in the National Stock Exchange Nifty50 Index to 17,200 and then to 17,000 levels in the near term.

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