Market Quote : Following the sharp rebound in the global markets, the domestic indices took a breather in hopes of relief from the global banking turmoil Says Vinod Nair, Geojit Financial Services
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Below is on Market Quote 17 March 2023 By Vinod Nair, Head of Research at Geojit Financial Services
Following the sharp rebound in the global markets, the domestic indices took a breather in hopes of relief from the global banking turmoil. Global equities reversed their selling streak on reports of a rescue package for the beleaguered First Republic Bank, along with an aid provided to Credit Suisse from the Swiss Central Bank, which would soothe concerns over the global financial stability. On the other hand, the ECB further raised its rates by 50 bps, indicating its preparedness to provide liquidity to banks upon necessity.
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