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The main reason for the poor show was the tepid IPO market, which plunged to $84.4 million from $1 billion in Q1 of 2022.

Get latest articles and stories on Latest News at LatestLY. Deal activities declined 35 per cent to USD 9.7 billion across 332 transactions in the first quarter of 2023 due to an overall decline in deal activities as the fear of a global recession has gained more traction amid the continuing war on Ukraine, according to an industry report. Latest News | Deal Activity Declines 35 Pc to USD 9.7 Bn in March 2023 Quarter: Report.

Deal activities declined 35% to $9.7 billion across 332 transactions in the first quarter of 2023 due to an overall decline in deal activities as the fear of a global recession has gained more traction amid the continuing war on Ukraine, according to an industry report. Of the total deals, M&As constituted more than half, still lower by 21% at $4.4 billion involving 76 deals, down 56% during the March quarter, according to the data collated by Grant Thornton. In volume terms, overall deals fell by 46% to 332 transactions.

For the week, BSE Midcap, Smallcap and Largecap indices added 1 percent each.

Shares of Infosys tanked 25 per cent to Rs 1,427.70 for the financial year ended March 31, 2023. Reliance Industries also plunged 11.50 per cent in FY23, while the benchmark BSE Sensex gained nearly 1 per cent. On the other hand, the country’s largest mortgage lender HDFC gained 10 per cent in the past 12 months.