SBI, Bank of Baroda, Punjab & Sind Bank, Union Bank of India, UCO Bank, Bank of India, Bank of Maharashtra and Indian Overseas Bank were up 4 - 7 per cent each.
According to the technical analyst, Nifty Private Bank exhibited a bullish pattern, supported by technical indicators, indicating a positive outlook for traders in the short term
According to the technical analyst, since Nifty Private Bank trades in a bearish trend, with moving averages, MACD, and RSI trending downwards, this, therefore, signals a negative market sentiment
According to the technical analyst, traders should adopt a strategy of purchasing near support and selling near resistance for the Nifty financial services index
A Bloomberg report said that Credit Suisse Group AG has stopped accepting bonds of Gautam Adani's group of companies as collateral for margin loans
Global broking and research firm CLSA said on Thursday, that the Adani Group poses no "significant downside risk" to Indian banks.
According to the technical analyst, the Nifty Auto index can rally to 13,050 - 13,160 levels.
Motilal Oswal Financial Services believes that sustained and consistent performance on delivering healthy return ratios can result in further re-rating of the stocks.
At 11:35 am; Nifty PSU Bank index, the top gainer among sectoral indices, was up 2 per cent, as against 0.06 per cent decline in the Nifty50
With today's fall, the Nifty PSU Bank index has corrected 15 per cent from its 52-week high level of 4,617.40 touched on December 15
In the past one month, the Nifty PSU Bank index has rallied 17.4 per cent as against a 2.1 per cent gain in the S&P BSE Sensex
The index hit an intra-day high of 4,145.45 before ending at 4,049, up 0.05%; m-cap at close was Rs 9.9 trillion
The Nifty PSU Bank index hit a new high of 3,811.15 on Wednesday, and has zoomed 67 per cent from its 52-week low of 2,283.85, touched on June 20, 2022.
Analysts see up to 31 per cent and 17.6 per cent upside in SBI and BoB's stock, respectively, from a one-year perspective
SBI hit life-time high, while Bank of Baroda registered a new 52-week high in trades on Monday after the banks reported strong Q2 earnings over the weekend. Here's what the charts indicate ahead.
The Nifty PSU Bank index hit a fresh 52-week high on Friday and has gained 15 per cent so far this month. The index can rally another 4 per cent.
In the past one week, Nifty PSU Bank index has rallied 12 per cent as compared to 3 per cent rise in Nifty50
With asset quality improving, analysts see more growth
Operational performance is expected to remain positive across lenders, given steadier yields. Thus, robust recovery in earnings is expected in PSU banks, ICICI Securities said
Among individual shares, Bank of Baroda, Canara Bank, State Bank of India, Indian Bank, and Union Bank of India soared between 21 per cent and 34 per cent during the period