Street signs: Banking stocks run out of steam, Sebi's shift to e-office

The Securities and Exchange Board of India (Sebi), based in Mumbai's Bandra Kurla Complex, is set to overhaul its operations by adopting a fully digital 'e-office' system

The banking pulse flatlines: Is consolidation the defibrillator?

 

The recent market rally, driven by banking stocks with considerable weight in the Sensex and Nifty, has stalled. After a solid 10 per cent rise from this month’s lows, the Bank Nifty index slipped 1 per cent to 54,664 on Friday, marking a three-day drop of 1.8 per cent. Analysts suggest banking stocks may enter a phase of consolidation, with the Nifty and Sensex relying on other sectors to make further growth strides. Dhupesh Dhameja, derivatives research analyst at Samco Securities, pointed out, “The Nifty Bank index’s first decline in three weeks