Shillong, March 20: The week started on a bad note for the markets in the country as Sensex dipped by 700 points to 57,300 levels. The Nifty fell below 17,000.
Both the S&P BSE Sensex and the NSE Nifty 50 slid over 1.1 per cent by 10:20 am.
The weak sentiment among investors is stated to be the cause behind this slide. Another reason is the global banking crisis wherein two banks in the United States have also been shut down recently. While the experts have stated that Indian banks are unlikely to face any severity of the global crisis, it has become difficult to make the investors understand.
In a recent development, a deal was brokered by the Swiss National Bank to rescue Credit Suisse. In order to save the troubled bank, top Swiss bank UBS took over the bank to save it from collapsing.