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BEST TOURIST PLACE TO VISIT IN TAWANG MONASTERY :

1 .SHONGA TSER LAKE :                                  Often famous as Madhuri Lake, Shonga-Tser Lake is known to be the place where the famous Bollywood song from the movie Koyala was shot. The lake is known for offering panoramic views of the landscape and has been quite a popular tourist spot with wonderful scenic beauty.                                  The vista comprises of the serene hills and mountains that surround the lake and the place charms the tourists with its tranquil ambience. A photographer’s delight, Shonga Tser Lake is a remarkable place to enjoy a casual stroll and bask in the serene atmosphere. The awe-inspiring lake is a great crowd puller in Tawang and offers a respite from the noise and pollution of the cities. 2 .SELA PASS :                   ...
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Indian Stock Market ( 20-Mar-2023 )

 Morning comments


Indian markets could open lower, in line with largely negative Asian markets today and lower US markets on Friday.…


U.S. stocks ended lower Friday as worries about banking-sector stability reemerged following a bankruptcy filing by SVB Financial Group and the release of data showing banks borrowed $165 billion from the Federal Reserve over the past week. For the week, the Dow fell 0.1%, the S&P 500 gained 1.4% and the Nasdaq climbed 4.4%. Nasdaq saw its biggest weekly percentage gain since January.


Investors are trying to get a sense for how quickly the economy may be slowing and whether the problems in the banking sector will lead to an “accelerated slowing.

In economic news, the Conference Board said Friday that the U.S. leading economic index fell 0.3% in February, marking the 11th straight monthly decline. U.S. industrial production was flat in February, data released Friday by the Fed show.


Meanwhile, the University of Michigan’s latest reading on consumer sentiment showed consumers were more downbeat in March than at any time in the last four months. The University of Michigan's preliminary March reading on the overall index of consumer sentiment came in at 63.4, down from 67 in the prior month. Economists polled by Reuters had forecast a preliminary reading of 67.0

Investors snapped up cash at the highest weekly rate since April 2020 in the week to March 15, according to BofA Global Research on Friday, against a tumultuous backdrop of the failure of several U.S. banks and a rout in global banking shares. Cash funds saw a "huge" inflow of $112.7 billion in the latest week, BofA said, citing EPFR data.


Struggling Swiss banking giant Credit Suisse has agreed to be bought by its arch-rival UBS at a discount to Friday’s close price, after seeing a wave of customer deposits exit the bank. Swiss authorities steered rival UBS AG to an all-stock deal worth 3 billion francs ($3.25 billion), or 0.76 francs per share, a not-so-slight discount to the 1.86 franc close on Friday of Credit Suisse. The Swiss National Bank said either Swiss bank can borrow up to 100 billion francs in a liquidity assistance loan, and Credit Suisse will get a liquidity assistance loan of up to 100 billion francs, backed by a federal default guarantee. 


Markets may be in a vulnerable position ahead of the Federal Reserve’s meeting this week, as traders bet the banking crisis could lead to meaningful interest-rate cuts over the next year. The market is largely expecting the Fed will announce Wednesday that it’s raising its benchmark rate by a quarter of a percentage point to a target range of 4.75% to 5%. Fed-funds futures on Friday indicated a 62% chance of that sized rate hike and 38% odds of a pause, according to CME FedWatch Tool.


The People’s Bank of China left the loan prime rates for 1-year and 5-year unchanged, after cutting the reserve requirement ratio for almost all banks by 0.25 percentage points last week.

Asian stocks fell after opening higher on Monday after relief at a weekend rescue deal for Credit Suisse and a concerted effort from central banks to shore up the mood, though trade was tense and volatile as contagion fears stalked financial shares. Investors are wary about a range of risks including contagion, the fragile state of U.S. regional banks, and moral hazard.


On a weekly basis, Nifty fell 1.8%, falling for the second consecutive week, though it recovered partly from the intra week low. Nifty could now continue the bounce and head towards 17255-17353 band while 16855 could offer support. Investor wariness about a potential banking crisis despite a lifeline offered, could restrict a fast upmove. Unexpected outcome of the US Fed meet could bring some turbulence in the markets.

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