5 Stocks That Lost Upto 20% In Trade In The Market Carnage

It has not been good going for the markets in the last few days. Following the collapse of the Silicon Valley bank, stocks across the globe have been volatile. There are fears that rising interest rates would have an adverse impact on the markets going ahead. All eyes are on the US Fed meeting of next week, where an indication on interest rates would be closely watched.

Here are a few stocks that dropped in trade to as much as 20%.

Domestic indices saw roller coaster ride amid continued global uncertainty. Nifty opened flat but soon witnessed selling pressure. "Nifty drifted below 17k zone for a brief moment intraday - almost after more than 4 months - it was below 17k last time on 13 Oct 2022. Nifty finally ended the day with loss of 111 (-0.7%) at 17043 levels. The only positive factor today was the WPI data for Feb'23, which came in at 25-month low at 3.85%. Except Pharma, all sectors ended in red. Markets are likely to remain under pressure in the near term, as the US banking crisis deepens with more and more US banks coming under the cloud. Now all eyes will be on the US inflation data that will be released late on Tuesday and would be key factor for the Fed's decision on interest rate in its upcoming meeting amidst the ongoing banking turmoil," says Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.

Disclaimer

This article is for information purposes only and highlights some of the stocks that fell sharply in trade. The article should be treated as informational and not an advisory to invest. Neither the author, nor Greynium Information Technologies Pvt Ltd should be held responsible for decisions based on this article.