Stock Market Today: The domestic indices started the week off flat. The BSE Sensex jumps to 300 points, while the NSE Nifty 50 also increased 2.05 points or 0.01% to 17,500 on the NSE. Up 17.15 points (0.04%) to 40,502.60, Bank Nifty. Tech Mahindra, Adani Enterprises, Hindalco, Adani Ports, and Apollo Hospital were the top gainers on the Nifty 50 index, while IndusInd Bank, SBI Life, BPCL, Titan, and Nestle India were the top losers.
M&M to sell 4.6% stake in Mahindra CIE via block deal
According to sources speaking to CNBC-TV 18 on March 12, automaker Mahindra & Mahindra is expected to sell a 4.6 percent stake in Mahindra CIE Automotive Ltd, a supplier of automotive components, at a floor price of Rs 355 per share.
According to the sources, the block deal’s base size would probably be Rs 615 crore, and there will be a 60-day hold on any additional share sales.
Stock Market Today: S&P 500 wraps up with biggest percentage loss since Sept
Fears of banking sector contagion and solid February employment statistics indicating the economy gained more jobs than anticipated caused US equities to close significantly lower and Treasury rates to continue their decline on Friday.
The session finished with each of the three major U.S. stock indices losing more than 1% of their value, with the tech-heavy Nasdaq suffering the worst percentage decline.
The Nasdaq Composite sank 199.47 points, or 1.76%, to 11,138.89, the S&P 500 lost 56.73 points, or 1.45%, to 3,861.59, and the Dow Jones Industrial Average dropped 345.22 points, or 1.07%, to 31,909.64.
Stock Market Today: Dollar slides as US intervenes on SVB collapse
As regulators intervened to contain the effects of Silicon Valley Bank’s abrupt collapse on Monday, the US dollar fell, and investors hoped the Federal Reserve would follow a less interventionist monetary policy.
All SVB customers will have access to their deposits as of right now, according to a number of actions that the US government revealed early on Monday. Authorities added that taxpayer losses would not be incurred in making up for the depositors of New York’s Signature Bank, which was shut down by the state’s financial regulator on Sunday. The dollar index, which compares the US dollar to six other currencies, decreased 0.153 percent to 104.080.
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