Wall Street was down by 1.66% to 2.05% on weak US Economic data, SVB financial lead rout in banks ahead of Friday’s jobs data.
SVB Financial Group (NASDAQ:SIVB) slumped more than 55% after the bank announced a $2.25 billion equity raise after revealing a $1.8B net loss and delivered negative annual and first quarter guidance amid the impact from higher interest rates.
Bank of Japan kept interest rate unchanged at -0.10% VS estimate of -0.10%.
VIX @ 12.72: expected to bounce to 14 – 16 range.
Approach on Indices: SGX Nifty indicate 150-points gap-down opening on weak global cues. Indices likely to open around support level on Nifty @ 17462 & Banknifty @ 41070.
SGX Nifty @ 17454.50 down 163.50 points at 8:40 AM
Click on the attachment to read the full report: