Asian share markets are down today, shaken by a fall on Wall Street that set off worries the biggest US bank failure in nearly 15 years might have ripple effects around the world.

The Nikkei is down 1.3% while the Hang Seng is trading higher by 2.3%. The Shanghai Composite is trading higher by 0.8%.

US stocks closed sharply lower and Treasury yields extended their slide on Friday over fears of contagion in the financial sector and strong February employment data showing the economy added more jobs than expected.

The Dow Jones Industrial Average ended 1.1% lower while the tech-heavy Nasdaq Composite fell 1.4%.

Here's a table showing how US stocks performed on Friday:

Source: Equitymaster

Back home, Indian share markets are trading on a positive note following the SGX Nifty trend.

Benchmark indices opened lower today but as the session progressed losses were erased.

This could be on the back of US authorities announcing plans to limit the fallout from the collapse of Silicon Valley Bank (SVB).

Meanwhile, Tech Mahindra shares rallied 9% on the back of a new CEO appointment, which aided sentiment around IT stocks. IT stocks have fallen in recent months on the back of recession concerns, among other reasons.

At present, the BSE Sensex is trading higher by 146 points. Meanwhile, the NSE Nifty is trading up by 58 points.

Tech Mahindra and Power Grid are among the top gainers today.

IndusInd Bank and Infosys on the other hand are among the top losers today.

Broader markets are trading on a negative note. The BSE Mid Cap index is down 0.6% and the BSE Small Cap index is trading lower by 0.9%.

Sectoral indices are trading on a mixed note with stocks in the consumer durable sector, and auto sector witnessing selling.

Meanwhile stocks in the utilities sector and power sector witness buying.

Shares of Cummins India and Kalpataru Power hit their 52-week high today.

The rupee is trading at Rs 81.89 against the US dollar.

In the commodity markets, gold prices are trading higher by Rs 471 at Rs 56,621 per 10 grams.

Meanwhile, silver prices are trading higher by 1.2% at Rs 63,654 per 1 kg.

Now track the biggest movers of the stock market using the stocks to watch today section. This should help you keep updated with the latest developments...

Speaking of stock markets, with interest rates rising up, both in India and globally, a good number of stocks have seen their PE multiples compress.

This was long due in some cases, such as in the case of loss-making new-age companies.
 

Adani group prepays more debt

Adani group on Sunday said it has prepaid share-backed promoter loans amounting to US $ 2.2 billion (bn) (about Rs 179.9 bn) taken against pledged shares of various group entities.

With this, group officials said the promoters have freed all equity pledged as collateral for margin-linked share-backed financing, ahead of the committed timeline of 31 March 2023.

Additionally, the group said it has also prepaid another loan tranche of US $ 500 million (m) (about Rs 40,907.5 m) as part of financing the acquisition of the group's cement assets, ACC and Ambuja Cement last year.

According to people in the know, promoter entities of Adani Group companies had an overall exposure of close to Rs 150 bn in margin-linked loans. Additional pledges were created, following the decline in Adani Group companies' share prices due to the Hindenburg Research report.
 

Yes Bank's lock-in period ends today

Yes Bank share price is in focus today as the three-year lock-in for ICICI Bank, HDFC Bank, IDFC First Bank, Axis Bank, Kotak Mahindra Bank, Federal Bank, etc. is ending today.

Now, these banks are free from the lock-in restriction that barred them from off-loading their shareholding in Yes Bank. After the end of the three-year lock-in, these banks are allowed to sell their stake and book profit as these banks had bought Yes Bank shares at around Rs 10 apiece.

According to stock market experts, the end of the lock-in period would mean high volatility in Yes Bank shares as crores of Yes Bank shares are now open for sale by these private banks.

If we add State Bank of India's (SBI's) stake with them, then the number of shares that may get offloaded is very high and hence retail investors are worried about the big route in Yes Bank's share price today.

However, stock market experts said that SBI and other banks have taken exposure in Yes Bank on instructions of RBI and hence it won't be easy for them to book profit and exit at once. They maintained that some profit booking can be expected and that is enough to bring high volatility in Yes Bank.

Speaking of private banks, it would be impossible not to mention HDFC Bank.

HDFC Bank is one that has always adapted to changing times.

It wanted to transform itself from a leader in physical banking to a leader in online banking. Since then, HDFC Bank has constantly focused on going digital.

In 2004, only 10% of customer transactions were initiated through the internet and mobile. The number has gone up to 92% in 2019.

It is a great example of a company that has taken advantage of its scale and embraced disruption rather than fear it.

These are traits that one should look for in picking stocks. They not only withstand the disruption but also gain from it in the long run.
 

Blackstone to sell stake in Sona BLW Precision Forgings

Reportedly, Blackstone will sell its whole 20.5% stake in Sona BLW Precision Forgings through a block transaction at a floor price of Rs 400 per share. Blackstone, through a company named Singapore VII Topco III, owns a stake in Sona BLW.

With its Initial Public Offering (IPO) in June 2021, Sona BLW raised Rs 55.5 bn. Singapore VII Topco III, a subsidiary of Blackstone Group, sold shares valued up to Rs 52.5 through a fresh issue of equity shares of up to Rs 3 bn.

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