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"The answer is absolutely not, for many reasons outside the simplest reason which is regulatory and statutory," Saudi National Bank Chairman Ammar Al Khudairy said in an interview with Bloomberg TV.

Shareholders can counterbalance market losses against gains and carry forward any residual losses to subsequent fiscal years to lower their tax liability.

The Nifty Auto index closed 0.51 per cent down at 12282.0.

In February 2023, mutual funds infused Rs 12,800 crore, while FIIs sold shares worth Rs 5,500 crore in the secondary market.

Major northern Asia banks mostly have “minimal risk of the sudden run on deposits that crumpled Silicon Valley Bank” given their solid deposits, asset mixes and liquidity, Bloomberg Intelligence analyst Francis Chan wrote in a note, “Smaller lenders may harbor liquidity and credit risks that could easily be overlooked.”

According to analysts, the grey market premium, which indicates the premium commanded by shares in unlisted markets stoo Rs 20. The company has fixed a price band of Rs 133-140. At the upper end, the shares are expected to list at 14% premium over the issue price.

On the technical charts, the RSI of the stock stood at 29.63.

A total of 3,999,841 shares changed hands on the counter till 02:14PM (IST)

"The rapid rises in interest rates and global debt levels could cause significant negative spill-over effects and may negatively impact the global growth dynamic," Reuters reported, quoting the Organization of Petroleum Exporting Countries.

Derivatives Analyst Shilpa Rout recommends that investors be very cautious on Bank Nifty and that it is important to be stock specific in sectors like metal. The range for Nifty on a broader basis is now between 17,000 and 17,250 odd zones. The Bank Nifty has a very weak structure. A very heavy unwinding is happening at immediate strikes and it is ready to break 39,000 and might slide towards 37,000 odd zones.