Rallies in the markets may not present a clear picture of certain key developments. This is the very nature of the markets. A little bit of digging helps reveal stories which may not be apparent in the broad sentiment which engulfs the markets. Take for instance, the banking index. In the past one year ended … Read more
MUMBAI – Private banks, which have always been the favourites of institutional investors, lost the spot to public sector banks who are touching the sky riding on retail bulls. So far in 2024, all public sector banks have given double-digit returns to investors. On the contrary, private sector banks have seen single to double-digit fall … Read more
A day after the Budget 2024 announcement, shares of PSU Banks rallied up to 20% in Friday’s intraday trade on BSE as a sharp drop in bond yields is set to boost their treasury portfolio. Yields on government bonds slumped after Finance Minister Nirmala Sitharaman pegged the gross and net market borrowing for FY25 at … Read more
State-owned Indian Overseas Bank‘s (IOB) market capitalization crossed the Rs 1 lakh crore mark for the first time following a 100% rally in the stock over the last six months. In Friday’s trade, the stock rose over 6.5% to hit a 52-week high at Rs 55.5, backed by heavy volumes on the NSE. A total … Read more
State-run Indian Overseas Bank (IOB) shares shot up nearly 14% on Monday to their 52-week high of Rs 45.15 amid a strong rally in public sector banks. Nifty PSU Bank was the top-performing index in an otherwise dull session. IOB was followed by UCO Bank, which was up nearly 7% around 10 am. It hit … Read more
Adani Ports, UPL, Aarti Industries and Ambuja Cement are four stocks on which Rajesh Palviya, SVP – Technical & Derivatives Research, Axis Securities, recommends a sell. “Adani Ports demonstrates a bearish sentiment as it recently breached the medium-term upward-sloping trendline. It is currently trading below critical moving averages (20, 50, and 200-day SMA), accompanied by … Read more
After declining over 10% in the last trading session amid fear related to the Fed rate hike and rising covid cases in China, PSU bank stocks rebounded, gaining up to 13% in Monday’s intraday trade. Shares of () were the top gainers in today’s trade as the stock surged 13% to Rs 29.75 apiece. Meanwhile, … Read more
Leaving their larger private sector peers behind, the stocks of PSU banks have rallied up to 26 per cent in the last 3 months alone. While Bank Nifty has rallied 12.8 per cent during the period, Nifty PSU Bank index has advanced over 17 per cent. Top gainers in the pack include (up 26.5 per … Read more