MUMBAI: Negative global cues and US inflation data to be released on March 13-14 are likely to impact the market in the week ahead.
With the 18th largest US bank SVB Financial that financed startups in trouble, the focus will be on Indian bank stocks this week in the domestic market, continuing with some more profit-taking as a caution after Friday’s fall.
On Friday, US market benchmark Dow Jones and S&P 500 fell 1.07 per cent and 1.45 per cent respectively as SVB contagion led to a sharp decline in bank stocks in the US market.
Last week, SVB was closed by regulators and its deposits were placed under the control of regulators to protect depositors after the bank’s shares fell sharply due to huge losses, reports said.
The news sparked widespread fears of a spillover into the broader US banking sector leading to the worst week for the US market since June 2022 as the Dow Jones index plunged 4.53 per cent.
