How SVB collapse offers opportunity for bottom fishing in India — explained
Stocks to buy: After heavy sell off post-SVB collapse news, auto, power and banking stocks listed on Dalal Street are expected to bounce back strongly
SVB collapse: After outbreak of Silicon Valley Bank (SVB) crisis, equity market across world came under the sell off heat. However, the SVB crisis taking shape of bank crisis in US as few more banks like Signature Bank, First Republic Bank, etc. have come under crisis. In fact, leading European bank and second largest Swiss bank Credit Suisse also come under crisis, which provided feed to global banking crisis. This bank crisis in US and Europe led to sharp selling in Indian stock market as BSE Sensex shed 2.18 per cent in the week gone by whereas NSE Nifty lost 2.29 per cent in last week. Nifty Bank index tumbled 2.42 per cent in this time.
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