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The regulators in USA and Europe have also acted promptly to address the issues in the stress banks and limit the contagion.Tactically, there are signs of over-pessimism and is reflected in some data points like FII net long position going down to below 8% lately as against net long of 70-75% in November 2022.Hence, the benchmark indices have held onto around the 17,000 level as of now.

The rates were steeply increased; Fed hiked by 475 bps in just 12 months, a historic jumbo. The banking sector had to pay the price of the monetary maven.It took a toll on the system; SVB, Silvergate Capital, First Republic, Signature Bank, and Credit Suisse had to be bailed out

​The unexpected hike in the securities transaction tax on futures and options and tax amendments in debt funds further turned the sentiment sour.The overall outlook for the market remains weak as investors gradually digest the domestic news while also keeping a tab on developments on the global front

In separate appearances, three regional Fed bank presidents said that their confidence that the banking system was not facing a liquidity crisis is what led to the decision to implement a 25 basis point policy rate hike on Wednesday.

The shares were sold at an average price of Rs 762.55 per piece, taking the transaction value to Rs 105.41 crore.

The Nifty Financial Services index is inside the weakening quadrant. However, some improvement is seen in its relative momentum. Besides this, Bank Nifty and PSU Bank indices are seen moving inside the weakening quadrant as well. The Nifty Metal, Media, Services Sector, Commodities, and Energy groups are inside the lagging quadrant. These groups are likely to relatively underperform the broader markets.

The move to cloud infrastructure can help brokers reduce costs, increase flexibility and scalability, and improve security and reliability. However, it is important for brokers to carefully evaluate their cloud provider options and ensure that they are complying with any relevant regulations and industry standards.

Silver has also managed to cross back above that 70,000 mark. That is also one of the other asset classes which are showing signs of momentum returning. When support shifts higher, it is a sign that a new trend is emerging for the asset classes.

The three-day initial public offering (IPO) will close on April 6, and the bidding for anchor investors will open on March 31, according to the red herring prospectus (RHP).

"We have been positive on a few pockets. I feel that when we talk about the banking stocks as a universe, the earnings were quite good and there was visibility for Q4 as well. The credit growth numbers are also coming up also quite strong. My sense is that banking is one sector investors can look at."