In one week, the stock of the second largest private sector lender has outperformed the market by gaining 3.5 per cent, compared to the 1.9 per cent rise in the BSE Sensex.
Technical chart shows that MFSL stock is facing some resistance around Rs 1,140 level; while the short-term trend may turn cautious, the overall trend seems positive; check key levels here.
For near-term traders, the optimal strategy is to book profits at current levels, given the proximity to resistance.
MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.7%, while Japan's Nikkei tumbled 2.9% and South Korea's KOSPI dropped 2%. Taiwan's markets were closed for a second day
The Nifty financial services index is poised to rally in the direction of 20,700 - 20,900 level, delivering an upside of 5 per cent.
Load up on financials, automotive stocks in May
The Nifty 50 index closed 1.63% higher at 17,359.75. The S&P BSE Sensex rose 1.78% to 58,991.52. Both the indexes logged their best day in since Nov. 11
Outflow from two of India's largest sectors in terms of market cap shows FPIs remain in 'sell' mode: Experts
The Nifty reclaimed the 18,000 mark and ended the session at 18,014, a gain of 208 points or 1.1 per cent
After jumping nearly 560 points during the session, the 30-share BSE index ended 37.70 points or 0.07 per cent lower at 57,107.52.
The company had fixed September 14, 2022 as the 'Record Date' for the purpose of determining the members, eligible for the sub-division of existing equity shares, and issue of bonus equity shares.
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.
IDFC Limited has crossed major resistance of Rs 65, which it had been struggling to conquer since late 2016
Banking, finance and IT counters accounted for most of the losses, while strong demand for metal stocks cushioned the fall
A recovering rupee added to the buying momentum, traders said
Lockdowns and low interest rates have taken a toll on global financial stocks
The benchmark S&P BSE Sensex tumbled over 1,069 points or 3.44 per cent but managed to close above the crucial 30,000-mark at 30,028.98 levels
Nifty Financial Services, Nifty Bank and Nifty Private Bank indices were down 2.7 per cent each, as compared to 1.5 per cent decline in the Nifty 50 index
Reliance Capital, DHFL, IDFC, Equitas Holdings, Can Fin Home Finance, M&M Financial Services and Ujjivan Financial Services were down in the range of 5% to 7% on the BSE.