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The two-day Federal Open Market Committee Meeting (FOMC) of the Federal Reserve will begin on 21 March 2023, Tuesday. The street will be keeping a close eye on the event following a spate of banking crises that surfaced over the past one week.

The collapse of Silicon Valley Bank and Signature Bank in the US has affected financial markets across the world, and we saw a downside movement in the Indian markets last week.

That was our call at the start of the year and we still maintain that even though India does not have any big problems per se in terms of the interest rate or inflation or the financial problems which are there right now globally.

Meanwhile, shares of seven Adani Group companies out of the ten listed entities settled higher on Friday, with Adani Enterprises jumping 2 per cent amid a positive momentum in equity markets.

"BlackRock is not participating in any plans to acquire all or any part of Credit Suisse, and has no interest in doing so," the spokesperson told Reuters.

So still the trend is weak and sell-on-rise is the strategy. 17300 is the stop-loss for Nifty. For Bank Nifty 40000 is the key level on the higher side if any pullback comes in the coming trading sessions.

The coming week is again likely to see a slightly tepid start. The levels of 17250 and 17350 are likely to act as potential resistance points. The supports come in at 16900 and 16710 levels. The trading range will continue to stay wider than usual.ET M

Overall, about $164 billion was taken from the Fed discount window and the emergency window; if you compare it to 2008 the maximum was at about $111 billion so we have already crossed that. And apart from that the FDIC has pumped in about $150 billion into the bridge banks, into the three banks that it has taken over.

Credit Suisse saw more than $450 million in net outflows from its U.S. and European managed funds from Monday to Wednesday, Morningstar Direct said.

Now, bear in mind that the Swiss National Bank has a lot of assets on their book. I mean, they hold $139 billion of US equity, so they do have enough firepower to resolve this. But this is Europe and Switzerland and it might take longer. But in the US, I think they have handled as well as they could and it was done in a very swift manner.