Private largecap bank stocks like HDFC Bank, ICICI Bank, Axis Bank, and IndusInd Bank, which together form around 60% of Bank Nifty, saw Long buildup or shorts being covered on a week-on-week basis, says Anand James, Chief Market Strategist, Geojit Financial Services. “Delivery buying has started to pick up this week in the case of … Read more
Indian market is expected to trade higher on Thursday tracking positive global cues. The Nifty future closed positive with gains of 0.46% at 21925 levels. India VIX was down by 2.34% from 15.81 to 15.44 levels. Volatility cooled off from its highs and gave way to the bulls at crucial support zones. Positive setup was … Read more
Sandip Sabharwal, asksandipsabharwal.com, holds ICICI Bank and will continue to hold as the biggest holder. He has Axis Bank where the investors have got concerned in the short term because of the slow growth prediction which they have given for the industry, which is prudent. Ex of that, he is not holding any other banking … Read more
Axis Bank shares fell over 5% to the day’s low of Rs 1,034.75 on Wednesday notwithstanding its December quarter earnings which were higher than what Street expected. Positive commentary by a couple of top brokerages failed to cheer the investors as selling pressure in top banking counters prevailed.Following its Q3 earnings on Tuesday, Morgan Stanley … Read more
Indian benchmark indices ended Friday in the green, maintaining their two-session gaining streak on buying action in IT and auto stocks. The S&P BSE Sensex finished at 72,026, up by 178.58 points or 0.25%. Meanwhile, the broader Nifty settled at 21,710.80, higher by 52.20 points or 0.24%. India VIX, a measure of volatility in Nifty, … Read more
The upward trend of Nifty is expected to persist in the near term, but the index may encounter resistance around 21,800-21,850 levels. Technical analysts suggest that a definitive move above 21,850-21,900 is necessary to unlock the next upside target of 22,200. Analysts recommend stocks like Axis Bank, Canara Bank, Divi’s Labs, Cipla, Coforge, Infosys, ITC, … Read more
Benchmark indices eked out gains on Wednesday following late buying in select stocks. The 30-share Sensex advanced 33 points to settle at 69,584 and Nifty gained 19.95 points or 0.1% to 20,926. Stocks that were in focus include names like Axis Bank, which fell 1.25%, Sonata Software, which was down 4%, and PI Industries, whose … Read more
US markets have started their journey upwards and are 2 to 3% away from their all-time highs and are showing positive momentum. The US Federal Reserve paused hiking interest rates and are cautiously optimistic about the economy. The US Fed Rates are at 5-5.25%. Inflation is also around 3.2%, which is comforting and probably the … Read more
