Indian Stocks Fall on Contagion Concerns Despite UBS' Acquisition of Credit Suisse

On Monday, Indian stocks experienced a decline as certain investors expressed concerns about the possibility of contagion risks in the international banking system. Although UBS Group's acquisition of Credit Suisse, which has been experiencing difficulties, provided some reassurance, some investors remained apprehensive. India's key stock market indicator, the Sensex, dropped by 1.49% or 865 points to 57,124 points, while the Nifty lost 1.53% or 265 points to 16,834 points. The Sensex has lost over 3,000 points since the beginning of the Silicon Valley Bank (SVB) crisis on March 9th.