Chandan Taparia, head of derivatives and technicals, Wealth Management at Motilal Oswal Financial Services, has recommended buying shares of Bharat Forge, Hudco and Bharti Airtel
As per the new rules, the index must include a minimum of 14 constituents, compared with the current 12, while the weight of the top constituent will be capped at 20% - down from 33% presently.
Technical charts suggest that Bank Nifty may exhibit range-bound trade in the near-term; Auto index may ride to new highs, while Realty index could see sharp swings in the coming months.
Sebi's proposed relaxation of index realignment norms could reduce potential $1 billion sell-off risk for HDFC and ICICI Bank, which are heavily weighted in the Nifty Bank index
Technical chart shows that the Nifty Bank has near resistance at 57,000 levels; above which the index can potentially rally past the 60,000-mark. Here are 5 banking stocks that can potentially rally.
SBI, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IDFC First Bank, Federal Bank, and Bandhan Bank have announced a combined sale of their 20% stake in Yes Bank to Japan's SMBC
RBI LCR norms: The guidelines, as per analysts at CLSA, could potentially infuse liquidity worth ₹2.5 trillion in the system, which is "modest but sentimentally positive"
Why markets are rising today: The benchmark BSE Sensex jumped 879 points intraday to hit a high of 79,432.78 level, while the Nifty50 index gained 281 points to a high of 24,132.75