INDIA STOCKS-Indian shares rise as banking crisis fears ebb; financials lead

By Bharath Rajeswaran BENGALURU, March 21 (Reuters) – Indian shares advanced on Tuesday, led by financials, as the rescue of troubled European lender Credit Suisse provided temporary relief, although contagion fears in banking cast a shadow. The Nifty 50 index .NSEI was up 0.40% at 17,055.95, while the S&P BSE Sensex .BSESN rose 0.42% to 57,866.52, as of 11:07 a.m.

IST. Eleven of the 13 major sectoral indexes advanced with high-weightage financials .NIFTYFIN rising 0.6%. Thirty-two of the Nifty 50 constituents logged gains.

Reliance Industries RELI.NS, the stock with the highest weightage in the Nifty 50, advanced more than 2.5% after global brokerage firm CLSA termed it a “bargain buy” at its current valuations. The rise in domestic equities follows an uptick in global markets as concerns over the banking crisis easedafter UBS’ state-backed takeover of Credit Suisse. The quick execution of Credit Suisse’s takeover is a temporary relief but worries of contagion in global banking remain, analysts said.

“So far, five banks globally have succumbed- from Silvergate to Credit Suisse,” said Aishvarya Dadheech, fund manager at Ambit Asset Management, adding that he expects “more worms to come out,” keeping markets volatile in the near term. Indian IT companies get a significant share of their revenue from the U.S. and European markets. Market participants now await the U.S.

Federal Reserve’s policy decision on Wednesday. “The Fed has an unenviable job to control inflation with interest rate hikes, while also controlling the consequences of its rate hikes,” said Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services. (£1 = 82.5200 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann Thoppil and Eileen Soreng)

(([email protected]; +91 9769003463))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags:

feather-and-black listed on couponmatrix.uksaw-experience listed on couponmatrix.ukshaw-academy listed on couponmatrix.ukslingsby-interiors-ltd listed on couponmatrix.uktomtom listed on couponmatrix.ukwolford-online-boutique listed on couponmatrix.uk
feather-and-black listed on couponmatrix.ukDrift off to sleep without a care in the world, surrounded by beautiful, comfortable bedding from Feather & Black. Founded in 2004 with a commitment to raising the bar in quality, expertise and value, Feather & Black offers an elegant range of hand-stitched mattresses and luxurious accessories to lull you to the Land of Nod in style. Don’t forget to pick up a Feather and Black discount code from us when you shop and you could create the boudoir of your dreams without blowing your budget.
saw-experience listed on couponmatrix.ukInspired by the grisly film francise, SAW: Escape Experience is London’s most spine-chilling escape room yet! Situated in the heart of London on America Square, Jigsaw invites you to participate in his latest games, where you’ll pit your wits against puzzles and moral dilemmas to win your key to freedom. This one isn’t for the faint of heart, so expect jump-scares, flashing lights and theatricality at every turn. No walk-ins are allowed, so secure your tickets with a SAW Experience London promo code from Groupon. Whether you’re playing with friends, colleagues or strangers, the SAW Experience is guaranteed to get your heart racing and test your moral fibre.
shaw-academy listed on couponmatrix.ukLooking to upskill or learn something new? Head to Shaw Academy. It’s your go-to for flexible online learning that delivers real credentials. Make the most of a Shaw Academy coupon to cut the cost of your studies - whether you’re interested in a photography course or learning how to code, we’ll help you save on a personalised education model that works for your lifestyle. Shaw Academy provides practical skills, global qualifications and career opportunities - head online to find a course that suits you today.
slingsby-interiors-ltd listed on couponmatrix.ukSlingsby is a UK based company that sells office commercial and industrial workplace materials. They offer a wide range of products at competitive prices, including anything from ladders and storage cupboards to PPE and office supplies. Use a Slingsby discount code to get the best deals on essential provisions for your workplace. So regardless of if you’re beginning a new start-up or expanding your business to new locations, you’ll find all you need to succeed with Slingsby. If you're looking for a great deal on office supplies, then you need to check out Slingsby. They offer a wide range of products at competitive prices, and you can use a Slingsby voucher code from Groupon to get even more savings. With our codes, you can secure savings on stationery, storage and furniture alike – so you can craft the ideal office space for a fraction of the price. One of the top-performing Slingsby products is their selection of chairs. They have a wide variety of styles to choose from, and you can use a Slingsby voucher code to get a great deal when buying in bulk. Be it a new chair for your home office or a whole selection of seats for a new warehouse, you’ll find seating solutions in all shapes, sizes and price at Slingsby.
tomtom listed on couponmatrix.ukFinding your way in life has never been easier with TomTom's range of GPS products and with the TomTom voucher code your head won't get lost in extortionate costs. TomTom empowers movement by developing innovative products that make it easy for people to keep moving towards their end goal. Best known for being a global leader in navigation and mapping products, TomTom also creates GPS sports watches, as well as state-of-the-art fleet management solutions and industry-leading location-based products. Our business consists of four customer-facing business units: Consumer, Automotive, Licensing and Telematics.
wolford-online-boutique listed on couponmatrix.ukSlip into something more luxurious with the help of Groupon's collection of Wolford discount codes. Wolford are premium legwear and lingerie specialists, dressing stylish shoppers from top to toe, under and over. Bodysuits, shapewear, tights, bras and hosiery are available in all shapes and sizes, with premium tops, blouses, cardigans, jackets, skirts, trousers and dresses to go over the top. Styles are figure-hugging and flattering, with an abundance of accessories available to set off outfits. Take advantage of free shipping and returns to make an even bigger saving, along with you Wolford voucher code. Wolford was founded all the way back in 1949 in Austria. From sleek shirts and smart skirts to stand-out dresses, they have all corners of the wardrobe covered, making it even easier for you to be paired with your ideal outfit. Armed with a Wolford voucher code, browse the latest collections to find yourself a soulmate in fabric form. Tired of lusting after lingerie you can't afford? Now you can reinvent yourself with the help of a Wolford voucher to inject some glamour into your life.