The Dow Jones led a sharp climb in the world markets last day, adding 380 points, while the S&P 500 rose 0.9%. The rise occurred the day after UBS acquired Credit Suisse, raising the possibility that the global financial crisis may be abating. News that JP Morgan would counsel troubled First Republic Bank on strategic alternatives also helped to boost sentiments.

Asia saw a rise in the Australia S&P ASX 200 of 1.10%, the Kospi of South Korea of 0.50%, and the Kosdaq of 0.24%. The SGX Nifty predicts gains of 150 points for the Indian markets as they begin. After losing as much as 264 points during intraday trading, the Nifty lost 111 points on Monday.

Motilal Oswal Asset Management Company has maintained that the market should trade between 18x-18.5x one-year forward earnings. “With FY24 earnings still estimated to be close to 1000, it implies a fair market level of between 18000 and 18500,” it said in its latest report.

Meanwhile, Bitcoin briefly topped the $28,000 for the first time in 9 months. The crypto has seen a solid rally over the last few weeks from levels of $20,000. Investors were also anticipating the US Fed slowing the pace of increase in interest rates and signaling a coming pause this week.