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Asian Games Glory & Market Mayhem: Nifty's 8-Week Slump, PB Fintech's Crash, and CEO Shifts
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CNBC TV18•03-10-2026, 11:14
Asian Games Glory & Market Mayhem: Nifty's 8-Week Slump, PB Fintech's Crash, and CEO Shifts
- •India celebrates its Golden boys and girls at the Asian Games, including Kiran Pahal, Poovamma Machettira, and Lovlina Borgohain, with more medals expected.
- •The Nifty index has recorded negative returns for eight consecutive weeks, a 25-year first, losing nearly 2,500 points in 42 trading sessions amid rising oil prices and interest rate fears.
- •Twelve Nifty 50 stocks, including Maruti Suzuki, Hindustan Unilever, and Reliance Industries, are at 52-week lows, with Bernstein suggesting they represent a bygone era.
- •PB Fintech shares plummeted, wiping out all gains since its 2021 listing in just six sessions due to a draft IRDAI circular, falling below its issue price.
- •Anup Bagchi is named MD & CEO of HDFC Bank, and Anup Saha for Kotak Mahindra Bank, ending CEO succession speculation, while ICICI Bank continues to be a significant source of top banking talent.
Key Questions Answered
The Nifty index delivered negative returns for eight consecutive weeks in a stretch, an occurrence never seen in over 25 years.
Following a draft IRDAI circular, PB Fintech shares suffered consecutive drops of 36%, 4%, 1.3%, 6.1%, 1.6%, and 8% over six sessions, wiping out all post-2021 listing gains and driving the stock down to its issue price of ₹980.
Anup Bagchi received approval from the RBI to become the next MD and CEO of HDFC Bank, succeeding his role at ICICI Prudential.
