In the past one month, SBI has rallied 17 per cent, as compared to a 5 per cent gain in the stock price of LIC.
Stocks to Watch Today: HDFC and HDFC Bank are likely to be in focus as the stocks exchanges have approved the proposed merger for these two corporates.
In the financial sector, Wood now holds SBI, Bajaj Finance, ICICI Prudential Life, ICICI Lombard and CAMS besides HDFC Bank in his India long-only equity portfolio.
Shares of banks and NBFCs seem to be better placed on the charts, while that of automobile, realty and others need to sustain above the crucial levels.
According to the technical analyst from Anand Rathi, both the stocks have taken support at historic levels and the RSI is showing an impulsive behavior.
Watch out for these key levels on SBI and Bank of Baroda, while Tech Mahindra and DMart can be avoided for now.
Stocks to Watch Today: The primary market too is likely to be abuzz with activity with three IPOs namely - Delhivery, Prudent Corporate Advisory Services IPO and Venus Pipes IPO open for subscription.
Reliance Retail Ventures, a subsidiary of Reliance Industries, has bought 89 per cent stake in Purple Panda Fashions for Rs 950 crore.
Banking shares have bounced back strongly in trades on Thursday amid hopes of a peace deal between Russia and Ukraine on planned diplomatic talks.
The RBI left key rates - repo and reverse repo unmoved at 4 per cent and 3.35 per cent, respectively.
Nifty PSU Bank index outperforms benchmarks; SBI hits record high; IndiGo soars 10% on strong rebound in Q3 bottom line; Vedant Fashions IPO sees 20% subscription on day 2
The Nifty PSU Bank index climbed to a fresh two-year high even as the NSE benchmark slipped a per cent.
Shares of Bank of Baroda can jump 15% as it claimed a new 52-week high
Castrol, Indian Bank, Nalco, PolicyBazaar, Tarsons Products, Tube Investments of India, TVS Motor and Union Bank of India are some of the prominent companies to announce result today.
Shares of SBI Cards and Payment Services on Tuesday gained nearly 5 per cent after the firm reported an 84 per cent jump in net profit for December quarter 2021
The Nifty PSU Bank index needs to cross 2,850 to indicate further strength
Reliance Jio plans its biggest ever rupee bond sale, while Bharti Airtel shelves its plans to de-merge its core telecom business
Maruti Suzuki India (MSI) is currently analysing customer feedback to ascertain if the Jimny brand can be introduced in India
Inverse Head and Shoulder in HDFC Bank may incline market participants to add the stock to their portfolio
The overall trend in rate sensitive stocks is positive and this unchanged policy may trigger further upside, once near term resistances are crossed