Global hedge funds are aggressively selling financial stocks, making the sector the year's top target for short bets. This trend, driven by concerns over the Middle East war's economic impact and the intricate links between banks and private lending, has seen significant drops in financial indices. Investors are hedging against broader credit risks, potentially anticipating systemic markdowns.
Indian indices ended a three-session losing streak with Nifty gaining 257.70 points. Banks, auto, and consumer stocks led the recovery, while technical indicators suggest potential pullbacks amid continued market volatility.
Nifty ended a three-session losing streak with strong gains, forming a bullish reversal pattern. Analysts see potential near-term recovery, with Adani Power and UltraTech Cement showing technical buying opportunities.
The London Metal Exchange said some trading has been halted due to 'an issue' and they are working to resolve the issue as soon as possible.
U.S. factory production increased marginally in February as manufacturing remained constrained by tariffs on imports, and the conflict in the Middle East could raise operating costs.
Vietnamese electric vehicle manufacturer VinFast said on Monday its fourth-quarter net loss widened from a year earlier as it increased impairment charges related to its U.S. plant, which it aims to resume construction of this year
Private-credit market jitters have spilled onto Wall Street, with some major U.S. banks tightening lending while the funds have capped withdrawals as mounting concerns prompt firms to curb risk and brace for further strain.
Bandhan Bank shares fell sharply, hitting the lower circuit after news that its promoter may offer existing investors an exit, compounded by West Asia crisis concerns, despite broader market gains.
MF Performance
Major Indices
