Stock Market Today: The Singapore Exchange’s Nifty futures traded 39 points, or 0.23 percent, higher at 17,218 to indicate that Dalal Street will have a good Tuesday.
Nifty today created a tall bearish candle on the daily charts as it retraced to levels from mid-October in addition to lower highs and lower lows on the hourly charts.
Stock Market Today: Tokyo stocks open sharply lower
Despite assurances from US President Joe Biden that America’s financial system is sound, Tokyo equities opened substantially lower on Tuesday following a mixed Wall Street session and declines in European markets. Almost an hour into trading, the benchmark Nikkei 225 index was down 2.33 percent, or 649.86 points, to 27,183.10, while the larger Topix index fell 2.95 percent, or 58.95 points, to 1,942.04.
Sliding bank shares drag Wall Street down in choppy trade
Wall Street was down on Monday due to falling bank shares as investors feared a ripple effect from the Silicon Valley Bank collapse. However, trading was choppy, and the Nasdaq composite actually ended higher as some sectors benefited from expectations that the Federal Reserve would scale back on interest rate increases.
Stock Market Today: Oil prices edge lower as SVB collapse spooks financial markets
Tuesday saw an increase in oil price declines over the previous day as stock markets reacted negatively to Silicon Valley Bank’s bankruptcy and concerns about a new financial crisis increased. By 0101 GMT, Brent crude prices were down 9 cents to $80.68 per barrel. West Texas Intermediate (WTI) crude for the United States fell 16 cents to $74.64 a barrel. WTI sank to its lowest level since December on Monday, while Brent dipped to its lowest level since early January.
Global Surfaces IPO subscribed 42 percent on first day of bidding
On March 13, the first day of bidding, investors submitted offers for 32.75 lakh equity shares in Global Surfaces’ initial public offering, outbidding the IPO’s 77.49 lakh share size by 42 percent. It follows the public issue released by the auto ancillary company Divgi TorqTransfer Systems this calendar year.
In contrast to the high net worth persons’ allocated 16.6 lakh shares, retail investors purchased 60% of the allotted quota of 9.46 lakh equity shares. Just 1% of the quota granted to qualified institutional purchasers was the subject of their bids.
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