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US: The US stock market's major indexes fell in the final hour of trading, closing near session lows, in a tumultuous day Friday. Investors were shaken by the Silicon Valley Bank closure, which hit the entire sector.

Asia: Asian shares mostly fell Monday, shaken by a Wall Street tumble that set off worries the biggest U.S. bank failure in nearly 15 years might have ripple effects around the world.

India: India stocks were lower after the close on Friday, as losses in the Banking, Capital Goods and Real Estate sectors led shares lower. At the close in NSE, the Nifty 50 lost 1.00%, while the BSE Sensex 30 index fell 1.12%.

Market is expected to open on flattish note and likely to witness sideways move during the day

Global Economy: The U.S. government posted a $262 billion budget deficit in February, up 21% from a year earlier, as outlays grew and revenues fell, due largely to higher tax refunds issued as the Internal Revenue Service worked through a substantial backlog of unprocessed returns. The deficit last month compared to a $217 billion budget gap in February 2022. Receipts for the month fell $28 billion, or 10%, to $262 billion, while outlays grew $18 billion, or 4%, to $525 billion. (Inv). UK plans 11 billion stg business tax break in budget. British finance minister Jeremy Hunt will hand businesses a three-year tax break worth 11 billion pounds ($13.23 billion) by replacing the UK's investment allowance with a temporary measure in next week's budget. Hunt will limit the relief to three years and propose a permanent replacement in the ruling Conservative Party's manifesto before the next election.

Commodities: Gold prices hit a one-month high on Monday, recovering sharply from recent losses as markets bet that a burgeoning banking crisis in the U.S. will push the Federal Reserve into softening its hawkish rhetoric in the coming days. Oil prices slipped in Monday Asian morning trade as concerns about possible further U.S. interest rate hikes continue to rattle investors, though a recovery in Chinese demand and a weaker dollar provided some support.

Currency: The U.S. dollar slid on Monday as authorities stepped in to cap the fallout from the sudden collapse of Silicon Valley Bank (SIVB.O), with investors hoping the Federal Reserve will take a less aggressive monetary path.

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