“Asian markets are also supporting. So, I do not find any logic or rationale behind going short here. The trend is clearly into uptrend. Right now, after rising for last three consecutive sessions, it is just a profit booking in intraday. I see a strong uptrend in the market,” says Vinay Rajani, HDFC Securities.It is … Read more
On Friday, the domestic equities rallied for the second straight day, driven by positive global cues and a drop in U.S. jobless claims. The Nifty surged 375 points (+1.5%) to hit record highs, with most sectors, except PSU Banks, ending in the green. Realty, metals, FMCG, private banks and financial services led gains. Analysts believe … Read more
September seasonality revealed that the Nifty PSU Bank index was a laggard, ending the month with declines on seven occasions in the last 10 years. Three scrips in the 12-stock index have given a dismal performance, falling more times than the index itself. These are Bank of India (BoI), State Bank of India (SBI) and … Read more
“So, while we do like the space in terms of valuations and the fact that most of the banks are very well capitalised, asset quality is under control, the market in the current stage is looking out for companies with a lot of growth potential and excitement,” says Hemang Jani, Independent Market Expert.I wanted to … Read more
On June 19, 2024, the Bank Nifty reached a new high of 51,957. This milestone could be just the beginning, with potential for further acceleration and growth. It’s a known fact that due to improved operational efficiencies, the implementation of the Insolvency and Bankruptcy Code and cautious lending practices by PSU banks have significantly enhanced … Read more
“Even the largest bank is trading at 2.3 times book, around 12-13 times price to earnings, I do not remember the last time that happened. And clearly, the risk reward is favourable at this point because of that,” says Anshul Saigal, Founder, Saigal Capital.Let us start off with banks, seems like the FIIs are back … Read more
“I think the time has come for them to really take charge or take lead or join the overall bullish camp and that is what is sort of happening. A lot of people have started to relook at HDFC Bank,” says Rohit Srivastava, Strike Money Analytics & Indiacharts.What are you reading of this kind of … Read more
Shares of defence stocks crashed 11% on BSE today as early counting trends showed that the ruling NDA may get lower than expected seats in the Lok Sabha elections. Shares of Mazagon Dock fell a little over 11% to day’s low of Rs 2,898.25 while Bharat Dynamics and BEL shares fell by 9.8% to their … Read more
“The fact bond yields went down when you had that big dividend payout, I think there was a bit of an outperformance. So, I think you could look for some more outperformance at least over the next 6 to 12 months,” says Hemang Jani, Independent Market Expert.But the interesting bit is despite the fact that … Read more
“There might be some psychological or emotional reaction in a shorter term, saying government would not be able to carry out this reform, that reform, but I do not think structurally speaking anything would change,” says Vikas Khemani, Carnelian Asset Management.The main plank of this government’s politics or one would say this entire canvassing has … Read more
