RBI data showed banks mobilised $127.2 billion through FCNR(B) deposits, while analysts expect the inflows to support liquidity, credit growth and lower rates
Muthuselvaraj M of Mirae Asset Sharekhan expects the short-term bias to remain sideways but sees positive prospects for Bank of India, UCO Bank and IOB among others from a medium-term perspective.
Midcap bank stocks - Yes Bank, IndusInd Bank and Bank of India are trading up to 50-94% away from their respective all-time highs even as the Nifty Midcap quotes at new peaks, shows data.
On a year-to-date (YTD) basis, HDFC Bank has declined 28 per cent and remains 8 per cent lower than in the last five years.
Axis Bank displays a notable structural shift, with its 50-DMA crossing below its 200-DMA, confirming the formation of a classic 'Death Cross' on the daily chart, explains Mayank Jain of Share.Market.
Analysts said that comments on NIM recovery, the impact of ECL transition, and mobilisation of FCNR deposits for the quarter are the key monitorables that investors must track in SBI's Q1 results.
Om Mehra, technical analyst of SAMCO Securities believes that ICICI Bank sharp price can rally to a new high; while the key support for HDFC Bank stock now stands at ₹772 on the charts.
Benchmarks end lower; ICICI Bank bucks the trend, PNB shine
ICICI Bank share price jumped 2.5 per cent in early trade on Monday after better-than-expected Q1 results. Brokerages see up to 25 per cent upside for the stock.
ICICI Bank is slated to post its June quarter earnings this Saturday, along with several other leading private banking names like HDFC Bank and Axis Bank.
Banking and financial stocks led the market rally on Wednesday, ahead of upcoming Q1FY27 results from major private lenders, including HDFC Bank, Axis Bank and ICICI Bank, due over the weekend.
Q1-FY27 numbers, according to Anirudh Garg, fund manager & partner, INVasset PMS, are likely to show soft margins across the board, but private banks will be the first to show the NIM trough is over
Union Bank of India plunged over 7 per cent in Friday's intra-day deals after the bank's Q1 Gross Advances numbers came in lower than the provisional figures.
Private banking and select IT stocks led market pullback on Wednesday as lower oil prices, and hopes of India-US trade deal lifted sentiment.
Bank stocks fell on Monday, June 1, on rising oil prices and bond yields. Analysts, however, remain positive on the sector outlook on healthy credit growth outlook
Om Mehra of SAMCO Securities decodes stock charts of Karur Vysya Bank, DCB and CUB, and shares insights on the likely trend and key levels to watch out for in the near-term.
Canara Bank reported a standalone net profit of ₹4,505.57 crore, down 9.9 per cent from ₹5,002.66 crore in the year-ago period
Bandhan Bank reported a net profit of ₹534 crore, up 69 per cent from ₹318 crore in the year-ago period
Nifty Bank index has fallen 8 per cent since the start of the Iran war at the end of February, underperforming the benchmark Nifty 50, which is down 4.7 per cent over the same period
Global brokerage Nomura prefers private banks over PSU bank stocks, citing limited re-rating scope, weaker earnings quality, and high leverage risks among PSBs. It likes Axis Bank & ICICI Bank