The Nifty Bank fell over 1% on Thursday tracking weak global cues to close below its crucial psychological support of 48,000. The banking index fell 533 points to close at 47,487 while the Nifty50 saw a decline of 345 points to close below the 22000 mark. IDFC First Bank, PNB, HDFC Bank, and IndusInd Bank … Read more
Led by gains in SBI and other PSU bank stocks, Nifty Bank ended 411 points higher after hitting a new peak of 48,219.95 points on Friday. The banking index is now seen getting closer to the 50,000 milestone. “Nifty Bank is also stretching higher and we expect the up move to continue till 49000 – … Read more
Even as banking stocks witnessed strong momentum in recent months, brokerage Kotak Institutional Equities suggests that the valuation of stocks from the sector is still not expensive. Public and private banks are still either close to their long-term averages or marginally higher, it said. “Public banks are just marginally higher than where they were pre-Covid … Read more