Public sector lender's quarterly net profit in Q1 at Rs 18,537 crore ahead of RIL's quarterly net profit numbers
Share of foreign currency assets in overseas securities rises to 81% by March.
An unchanged repo rate may propel rate sensitive stocks to rise up to 15 per cent
The stock is placed below all important moving averages, which indicates a bearish trend on all time frames, says technical analyst from HDFC Securities
Analysts expect the underperformance in bank stocks to continue ahead as the current fears around the banking sector globally are likely to persist for some time
The sell-off in the banking pack, analysts said, was a knee-jerk reaction to the developments with US-based Silicon Valley Bank (SVB) that announced a share sale to shore up its finances
Selective stocks like Bharat Petroleum Corporation, Divi's Laboratories, Hindalco Industries, Hero MotoCorp and State Bank of India, the technical charts are reflecting clear weakness.
Descending Triangle breakdown on Nifty Bank index may see up to 5% decline
The lenders to the group include big names like the State Bank of India, Bank of Baroda, the Punjab National Bank, Axis Bank, and IndusInd Bank
SBI Q3 result: The profit number beat Street estimate. Consensus estimates by Bloomberg had projected net profit at Rs 13,196 crore
Global broking and research firm CLSA said on Thursday, that the Adani Group poses no "significant downside risk" to Indian banks.
Stocks to Watch: TCS reported 11 per cent YoY growth in Q3 net, while revenue beat analyst expectations at Rs 58,229 crore.
PSU Bank index surged 71 per cent in CY22, recording the highest-ever gain since it debut in 2011
Stocks to Watch: KFin Technologies to debut on the bourses today. The stock is likely to list on a tepid note.
In the past one month, SBI up 3% has underperformed the PSU Bank index, which surged 21% during the period.
Coal India, SBI and Adani Enterprises continue to trade with a robust bullishness, while TVS Motor and Bajaj Finance seem to be struggling to hold their ground, technical charts show.
As per the charts, SBI and DLF need to conquer the near resistances at Rs 620 and Rs 420, respectively, for fresh gains to emerge.
Recently, SBI raised Rs 10,000 crore through its maiden issue of infrastructure bonds, for funding infrastructure and affordable housing segment.
Stocks to Watch Today: SBI too may be in focus after the PSU bank successfully raised Rs 10,000 crore via its maiden infrastructure bonds.
Stocks to Watch Today: According to reports, Zomato is likely to witness a block deal on Wednesday.