AU Small Finance Bank and Bajaj Auto seem well placed on the technical charts and should be able to witness decent gains in the weeks ahead.
At 10:40 am; barring the Nifty PSU index which gained nearly a per cent, most of the other sectoral indices such as Nifty Bank, Financial Services, Auto and Realty were more or less unmoved.
The current momentum, which is showing stability above 200-DMA could see a gradual rally towards Rs 800 to Rs 815 levels, its next hurdle zone.
Banking shares have bounced back strongly in trades on Thursday amid hopes of a peace deal between Russia and Ukraine on planned diplomatic talks.
Nomura pointed out that even though the outlook for banks remains positive, a prolonged conflict-like situation would be negative for global growth
The stock has underperformed post management change, more so due to the RBI's embargo on its card/ digital initiatives and Covid-induced disruption.
Auto stocks are likely to react to the monthly sales reported over the last two days. Tata Motors and M&M sales reported strong sales.
Banking shares may see some action after four banks hiked deposit rates in the last one week, an indication that the interest rate cycle has turned amid uptick in loan demand.
At 10:31 am; Nifty Bank, Nifty Financial Services, Nifty PSU Bank and Nifty Realty indices were up 1 per cent, against a 0.5 per cent gain in the benchmark Nifty50 index
The Federal Bank stock is attempting a breakout on the upside by crossing Rs 103 level, the Relative Strength Index (RSI) has formed a positive crossover indicating a bullish strength.
Banks and NBFCs stand to gain from the Union Budget as a new growth cycle on the back of the massive capex plan has the potential to crowd-in private investment, say analysts
A decline in payment and credit card-related fees from a year ago - as the bank gave fee waivers as an incentive - was a new niggle for the lender to contend with
The Nifty PSU Bank index needs to cross 2,850 to indicate further strength
Banking stocks have broadly reacted positively to the strict capital norms under the Basel regulations put in place for domestic banks over an 18-year period, starting October 1998, RBI paper showed
Textiles shares shall be in limelight as the government has released the operational guidelines for the production-linked incentive (PLI) scheme
Bank shares may be in focus as RBI proposes to introduce revised norms for banks for setting aside capital for operational risks
Jefferies is bullish on HDFC Bank, ICICI Bank, SBI, and HDFC.
Rate sensitive shares are likely to be in focus owing to the RBI policy meet outcome
Traders may keep positions light owing to the weekend factor as uncertainty lingers around the threat of Omicron variant
Expect PNB, Bandhan Bank and other banks to trade with a negative bias below 200-DMA