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Stock Market Live Updates: Sensex erases nearly 600-point gain, slips into negative


01:34 PM

Japanese shares end higher as worries over banking crisis ease

Japan’s Nikkei share average ended higher on Friday, led by banking and electronics stocks, as easing worries over crisis at U.S. private lender Silicon Valley Bank and Swiss bank Credit Suisse Group propped sentiment.

The Nikkei closed 1.2% higher at 27,333.79, while the broader Topix ended up 1.15% at 1,959.42.

The Nikkei index, however, ended lower for the week, amid a brewing banking crisis that sent bond yields plunging, while market participants sharply lowered expectations of future interest rate hikes in Western economies.

The stronger closings for the day follow a risk rally in the broader Asian markets and Wall Street overnight, which are set to spill over to European equities.

12:46 PM

Crypto Price Today: Bitcoin rises above $25,900; BNB, Dogecoin surge upto 5%

The cryptocurrency markets were trading higher in Friday’s trade with crypto heavyweights like BTC and ETH leading the rally. Bitcoin (BTC) rose 5.45% to $25,906, whereas Ethereum (ETH) was above the $1,700 level.

“Bitcoin is inching closer towards the $26,000 mark. Following the Arbitrum Airdrop announcement that came out yesterday evening, the sentiments across the crypto market took a positive turn. It is one of the biggest and most awaited events since the past several months,” Edul Patel, Co-founder and CEO at Mudrex, said.

Other top crypto tokens were also trading higher. BNB and Polygon surged over 4%. Dogecoin, Solana and Shiba Inu were also trading with gains. Meanwhile, the global cryptocurrency market cap was trading higher around $1.11 trillion, rising 3.85% in the last 24 hour

11:16 AM

Maiden Forgings to launch IPO next week; aims to raise Rs 24 crore

Steel bars and wires manufacturer Maiden Forgings on Friday said it will launch Initial Public Offering (IPO) to raise Rs 24 crore. The IPO will open on March 22 and close on March 24, Maiden Forgings said in a statement. Out of the total 37,84,000 equity shares on offer, not more than 17,97,000 equity shares have been reserved for Qualified Institutional Buyers (QIB). A total of 5,39,100 shares have been reserved for Non-Institutional Investors (NII) and the rest for retail individual investors.

10:37 AM

TOP READ | Vijay Kedia’s funda to deal with confused Nifty

With the headline index Nifty down around 10% from its 52-week high level amid a string of global and local worries, Dalal Street’s top value investor Vijay Kedia’s formula is simple – treat inactivity as an activity.

“Prudent investors must think about what will happen next year and not this year. Spend time in the market, don’t be too adventurous. Just wait for the bottom. Remember that inactivity is also an activity in the market,” says Kedia when asked about investing strategy in the current market situation.

09:48 AM

Nifty outlook by Anand James – Chief Market Strategist at Geojit Financial Services.

That the bearish onslaught failed to push beyond 16800 encourages us to keep the upside trajectory inplay. We had pencilled in 17470 as the measured objective for the recovery push. The first challenge would obviously be from the recent reaction peak of 17224, which had held supreme on multiple days, but we do not expect much drama this time. However, if exhaustion sets in on approach to 17320, be advised on the importance of 17000 as a downside reversal level from here on.

There are indications of the storm in the global banking sector blowing over. The authorities including the US treasury, the Fed, the Federal deposit insurance corporation and the Swiss central bank have acted timely and decisively to contain the crisis and calm the markets. This should infuse confidence in investors. Meanwhile, the sharp correction in crude and the declining trade deficit have improved India’s macros significantly. Declining fiscal and current account deficits along with a healthy banking system and deleverage corporate sector can deliver good growth and corporate earnings in FY24. The recent market correction has also made valuations reasonable. This is positive news from the market perspective.

– Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services

07:40 AM

Asian markets take breather from banking turmoil

Asian markets extended a risk rally on Wall Street on Friday to end a tumultuous week that saw a brewing banking crisis send bond yields plunging while market participants sharply lowered expectations of future interest rate hikes in Western economies.

07:23 AM

SGX Nifty signals a positive start

Nifty futures on the Singapore Exchange traded 122.5 points, or 0.72 per cent, higher at 17,145, signaling that Dalal Street was headed for positive start on Friday.

07:23 AM

Tech View: Nifty forms Doji candle on weekly expiry day.

Amid expiry day volatility, headline index Nifty on Thursday formed a long-legged Doji-type candle on the daily charts. Chart readers say such a pattern after reasonable weakness could be considered a reversal pattern on the upside after confirmation.

07:23 AM

Tokyo stocks open higher extending US rallies

Tokyo stocks opened higher on Friday, supported by US rallies on eased concern over bank failures and jumps in stocks after the European Central Bank lifted rates.The benchmark Nikkei 225 index was up 0.69 percent, or 186.12 points, to 27,196.73 in early trade, while the broader Topix index added 0.68 percent, or 13.11 points, to 1,950.21.

07:22 AM

Wall Street closes higher as First Republic helps lift banks

A strong rebound by financials helped Wall Street’s main indexes close firmly positive on Thursday, after some of the country’s largest lenders came to the rescue of embattled First Republic Bank.

07:22 AM

Rupee falls 11 paise to 82.76 against US dollar

The rupee fell for the fourth day in a row on Thursday and depreciated by 11 paise to 82.76 against the US dollar amid mixed global equity market cues and foreign fund outflows.

07:22 AM

Oil steadies as investors take stock of banking crisis

Oil prices were little changed on Friday after a meeting between Saudi Arabia and Russia calmed markets, but crude benchmarks were still headed for a second weekly fall after a banking crisis sparked a sell-off in global financial markets this week.

07:22 AM

Sensex, Nifty on Thursday

The 30-share BSE benchmark Sensex rose 79 points or 0.14% to settle at 57,635. The broader NSE Nifty surged 13 points or 0.08% to end at 16,985.



Read More: Stock Market Live Updates: Sensex erases nearly 600-point gain, slips into negative

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