Page 6 - Bank Stocks
Banks set to gain as bond yields soften 14 basis points in a quarter
Market participants said that the yields fell in FY24 on the back of foreign inflows and favourable demand-supply dynamics over the year
 "Banks set to gain as bond yields soften 14 basis points in a quarter")
IDFC First Bank slips 3% after over 2% equity change hands in block deals
As per reports, Cloverdell Investment, an affiliate of US-based Warburg Pincus, planned to sell 159 million shares in IDFC First Bank through the block deal route on Thursday.
 "IDFC First Bank slips 3% after over 2% equity change hands in block deals")
Strength in SBI stock going ahead will depend on earnings growth: Analysts
While analysts do not see a specific tailwind that can cause a re-rating in the short term, they see headroom for outperformance in long-term
 "Strength in SBI stock going ahead will depend on earnings growth: Analysts")
Goldman Sachs downgrades SBI, ICICI Bank, says 'Goldilocks period' ending
The brokerage has downgraded SBI and ICICI Bank to 'Neutral' from 'Buy'; and downgraded YES Bank to 'Sell' from 'Neutral'
 "Goldman Sachs downgrades SBI, ICICI Bank, says 'Goldilocks period' ending")
Bank stocks outperform markets on Tuesday; HDFC Bank rises 2%; here's why
Shares of HDFC Bank gained 2 per cent to Rs 1,447.5 apiece in the intraday trade after global brokerage Citi gave a 'buy' rating
 "Bank stocks outperform markets on Tuesday; HDFC Bank rises 2%; here's why")
HDFC Bank, Axis Bank: Why banks have taken a beating post the RBI policy?
A status quo on interest rate meant lenders may have to either hold or raise rates further in a bid to mobilise higher deposits
 "HDFC Bank, Axis Bank: Why banks have taken a beating post the RBI policy?")
Worst not over for bank stocks; sit on the sidelines for now, say analysts
The recent quarterly results of HDFC Bank and Axis Bank had disappointed the street, which in turn triggered market-wide selling by FPIs, especially in banking counters
 "Worst not over for bank stocks; sit on the sidelines for now, say analysts")
Axis Bank sinks 6% in sharpest fall in 5 months; Motilal downgrades stock
MOFSL said an elevated CD ratio will constrain credit growth, while continued re-pricing of deposits will likely exert pressure on margins in the coming quarters.
 "Axis Bank sinks 6% in sharpest fall in 5 months; Motilal downgrades stock")
Nifty PSU Bank, Financial Services Indexes flash caution signal
According to Ravi Nathani, an independent technical analyst, the Nifty PSU Bank index hints of a peak at 5,920, while the Financial Services Index faces stiff resistance at 21,625.
 "Nifty PSU Bank, Financial Services Indexes flash caution signal")
Indian markets slip 1% amid global jitters, FMCG index declines 1.5%
Weakness in finance stocks, nervousness ahead of Q3 results, valuation concerns weigh on sentiment
 "Indian markets slip 1% amid global jitters, FMCG index declines 1.5%")
DCB Bank hits 52-week high, has rallied 25% in last 1 month; here's why
On December 8, 2023, the bank's board approved allotment of up to 6.06 million equity shares on a preferential basis, to Aga Khan Fund for Economic Development, at an issue price of Rs 137 per share.
 "DCB Bank hits 52-week high, has rallied 25% in last 1 month; here's why")
HDFC Bank market cap hits Rs 13 trn mark; stock surges 10% so far in Dec
Analysts believe the worst seems to be over in terms of margin compression, and are optimistic over its future growth prospects.
 "HDFC Bank market cap hits Rs 13 trn mark; stock surges 10% so far in Dec")
Rally in Nifty Pvt, PSU Bank indices may be topping out; check strategy
Traders are advised to exercise caution and secure profits in Nifty PSU Bank index on upward movements
 "Rally in Nifty Pvt, PSU Bank indices may be topping out; check strategy")
Sensex ends 304 pts up, Nifty tests 21,000 as RBI leaves rates untouched
Closing Bell on December 8, 2023: The BSE Sensex touched a high of 69,894, whil the Nifty hit a peak at 21,006. Infosys, HDFC Bank and ICICI Bank were the major movers on Friday.
 "Sensex ends 304 pts up, Nifty tests 21,000 as RBI leaves rates untouched")
RIL, banks, IT stocks drag Sensex 188 pts down, Nifty below 19,750
Closing Bell on November 17, 2023: The broader markets, on the other hand, notched gains with the BSE MidCap and SmallCap indices rising 0.27 per cent and 0.36 per cent, respectively
 "RIL, banks, IT stocks drag Sensex 188 pts down, Nifty below 19,750")
SBI Q2 results preview: Analysts expect lender's profit to drop; here's why
State Bank of India is scheduled to report its September quarter results on Saturday, November 4
 "SBI Q2 results preview: Analysts expect lender's profit to drop; here's why")
Karur Vysya Bank surges 7% post record Q2 profit; stock hits 6-year high
The bank reported its highest-ever quarterly profit of Rs 378 crore for the quarter ended September 2023, up 51 per cent from a year ago period.
 "Karur Vysya Bank surges 7% post record Q2 profit; stock hits 6-year high")
Bulking up: Mutual fund managers favour select banks and auto stocks
Maruti Suzuki, Zomato, ITC and Tata Motors are other stocks that have seen continued buying interest from MFs
 "Bulking up: Mutual fund managers favour select banks and auto stocks")
Rate sensitive shares trade firm as RBI MPC keeps repo rate unchanged
The RBI said the near-term inflation outlook is expected to improve on the back of vegetable price correction and the recent reduction in LPG prices
 "Rate sensitive shares trade firm as RBI MPC keeps repo rate unchanged")
CSB Bank shares jump 6% in weak market, hit 52-week high; more steam left?
According to analysts, the bank's management has a multipronged growth strategy, leading to a compelling investment argument
 "CSB Bank shares jump 6% in weak market, hit 52-week high; more steam left?")
