Latest Stock Market News

US stocks open lower as bank contagion worries rise

Updated at : 2023-03-24 20:20:03

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The Dow Jones Industrial Average fell 67.03 points, or 0.21%. The S&P 500 opened lower by 9.51 points, or 0.24%.

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Physical gold dealers in India had to offer the biggest discounts in over a year to attract buyers who were deterred by record-high gold prices last week. There were concerns that festivities in Maharashtra and Karnataka would fuel the purchase of the commodity. In contrast, there was steady demand for gold in China, with premiums going down slightly as the banking crisis continued. Market uncertainty has given investors reason to rely on safe-haven assets, keeping the demand sturdy worldwide.

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Stock market update: Nifty Pharma index falls 0.22%

Updated at : 2023-03-24 19:20:04

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The Nifty Pharma index closed 0.22 per cent down at 11755.35.

The recent fall has faded hopes of sustained recovery, and we might again end up seeing range-bound moves in the index. Needless to say, the major support is intact at 16,800 in Nifty. We thus reiterate our view to limit positions and maintain positions on both sides.

Gold climbs Rs 70; silver jumps Rs 520

Updated at : 2023-03-24 19:20:04

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So far this week, gold prices have surged almost 2.50 per cent on the back of safe haven demand and traders expect US central bank may pause its rate hike cycle, Gandhi said.

​Sensex fell 400 points to 57,527, while Nifty settled at 16,945, down 0.77% or 132 points.

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European banks fell 4.5% and were set for their third week of declines, after the failure of U.S. midsized lenders and the turmoil at Credit Suisse highlighted growing risks to banks in the wake of tightening financial conditions.

Stock market update: Nifty Bank index falls 0.56%

Updated at : 2023-03-24 17:30:04

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The Nifty Bank index closed 0.56 per cent down at 39395.35.

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It seems traders are not comfortable with their risk exposures into the weekend as the moves in global markets have shown we may not be out of the woods on these banking issues, said a trader at a Mumbai-based bank.

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