Shares of Federal Bank hit a three-year high at Rs 109.40, and have gained 12 per cent in the last four trading sessions on the back of healthy Q1 performance.
State-owned lenders, which hold large quantities if G-Secs, to face brunt of yield spike
Bank of Baroda, Canara Bank, and State Bank of India may see even better returns as they have also broken out of "Double Bottom" pattern
Stocks to Watch Today: Among airline shares, SpiceJet has reported seven aircraft related incidents in the last two months; while IndiGo said has hired over 1,500 cabin crew staff to counter likely at
As of 10:09 am, the S&P BSE Private Bank and Nifty Private Bank index were down 1 per cent each, as compared to 0.6 per cent decline on the benchmarks, S&P BSE Sensex and Nifty50 index.
State Bank of India is the only stock that has bucked the trend. The stock has amplified investors' wealth by 250 per cent in the last five years and 550 per cent in the twelve-year period
Direct impact of rising interest rates might already be discounted by the markets, but secondary impact is not yet fully priced in, says Varun Lohchab, head of institutional research, HDFC Securities
Inflation rate has caused a stir throughout global markets leading to extended selloff of stocks and government bonds
Higher interest rate, though, should help improve short-term margins and spread
The MPC also decided to remain focused on withdrawal of accommodation to ensure that inflation remains within the target going forward, while supporting growth.
Stocks to Watch Today: Banks and rate sensitive related shares are likely to be in focus today as RBI announces the outcome of its three-day policy meet this morning.
Stocks to Watch today: Tata Motors signed the biggest-ever EV fleet order in India with the largest fully-electric ride-hailing service firm - BluSmart Mobility for delivering 10,000 Xpres-T EVs.
In Q4FY22, the bank's standalone net profit dropped 66 per cent YoY to Rs 201 crore as the bank set aside Rs Rs 325 crore on account of a fraud.
At 02:27 PM: Nifty Bank, Nifty Financial Services, Nifty PSU Bank, Nifty Auto and Nifty Auto index were down between 1.3 per cent and 2 per cent on the NSE.
TCS is likely to announce results after market hours on Monday. The IT stocks will be in focus with Infosys too to announce earnings later this week.
AU Small Finance Bank and Bajaj Auto seem well placed on the technical charts and should be able to witness decent gains in the weeks ahead.
At 10:40 am; barring the Nifty PSU index which gained nearly a per cent, most of the other sectoral indices such as Nifty Bank, Financial Services, Auto and Realty were more or less unmoved.
The current momentum, which is showing stability above 200-DMA could see a gradual rally towards Rs 800 to Rs 815 levels, its next hurdle zone.
Banking shares have bounced back strongly in trades on Thursday amid hopes of a peace deal between Russia and Ukraine on planned diplomatic talks.
Nomura pointed out that even though the outlook for banks remains positive, a prolonged conflict-like situation would be negative for global growth