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19 March 2023
Sunday
Markets jittery on fears on contagion
In the week gone by, sharp selloff was seen in Indian markets as Nifty and Nifty Bank both the indices ended with a cut of more than 1 pct. Nifty slipped below the 17000 levels for the first time in over five months, taking cues from weak global markets and weakness due to the developments surrounding the Adani Group. The turmoil in the US banking space with the failure of Silicon Valley Bank (SVB) and the closure of New York-based Signature Bank dampened the investors sentiment. Weakness aggravated further after woes at Credit Suisse trigged concerns about a banking crisis in US & Europe.
Investors welcomed news of a large group of banks infusing cash into U.S. lender First Republic Bank and Swiss National Bank providing a lifeline to Credit Suisse. Markets thus recovered some of the losses in later part of the week, as traders cover their short positions ahead of a weekend as Nifty managed to close at 17100 mark.
For the week, the Nifty ended higher by 1.8 pct while the Nifty Midcap and the Nifty Smallcap indices fell by 2 pct and 2.5 pct respectively. On the sector front, Nifty PSU Bank index fell 4.5 pct and Nifty Auto index fell 3.9 pct. Nifty IT index was down 2.3 pct and Nifty Bank was down 2.2 pct. On the gainers side, Nifty Realty index gained 0.2 pct.
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Share Name | Date | Entry Price | Target Price | Exit Price | Return % |
---|---|---|---|---|---|
Tata Motors | 19th Feb, 2019 | 102 | 250 | 242 | +237.25 |
L&T | 30th Mar, 2020 | 798 | 1500 | 1500 | +87.96 |
Titan | 30th Mar, 2020 | 850 | 1400 | 1400 | +64.7 |
Britannia | 30th Mar, 2020 | 2213 | 3600 | 3635 | +64 |
Hero Motocorp | 30th Mar, 2020 | 1588 | 2800 | 2557 | +61 |
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