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stock market next week The move will depend on global cues. Especially the widespread impact of the sinking of the US-based Silicon Valley Bank can be seen on the market. According to market experts, after the sinking of Silicon Valley Bank, when the market opens on Monday, the biggest impact can be seen on the stocks of banking, IT, tech and startup companies. Fears of a 2008-like situation following the collapse of Silicon Valley Bank in the midst of a global recession could put pressure on stocks in these sectors. Apart from this, retail inflation data and the attitude of foreign investors will affect the market.
Fear of continuing market decline
Santosh Meena, Head of Research, Swastika Investmart Ltd said, poor global cues were a major contributor to the weakness in Indian equity markets, and its impact will continue into next week. The failure of Silicon Valley Bank, a major source of funding for startups in the technology sector, has raised concerns about the soundness of the global financial system. Vinod Nair, Head of Research, Geojit Financial Services, said global markets are again in the grip of uncertainty following the remarks of the head of the US Federal Reserve, who indicated the possibility of a longer and sharper hike in interest rates.
The market closed with a big fall
The benchmark Sensex declined over one per cent last week and analysts expect investors to await the inflation data based on the Consumer Price Index for February, which will be released on Monday. The 30-share BSE Sensex closed 671.15 points, or 1.12 per cent, lower at 59,135.13 on Friday amid weak global cues and selling by foreign institutional investors. The Sensex declined a total of 1.12 per cent or 673.84 points during the week ended March 10.
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