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Bank Nifty hit a record high on Monday lifted by a sharp rally in financial stocks such as ICICI Bank, Axis Bank, SBI, IndusInd Bank among others after strong Q4 results.
The Nifty Bank index surged more than 2.4%, or over 1,100 points, to touch a new life-time high of 49,399.30 on April 29, crossing earlier level of 49,057.
The Nifty Private Bank and Nifty PSU Bank indices also rallied 2% each.
Open interest indicates that bulls are likely to dominate the following counters.In Monday’s trading session, the following five stocks witnessed a build of fresh long positions. Let’s first understand how it is concluded whether a stock has seen a buildup of fresh long position or not. When a stock price moves up and the open interest on the counter follows the same, it is taken as a sign of a long buildup. The signal is considered more reliable if the volume on the counter has also seen an increase.SBI’s stock price gained 2.95%, and open interest saw a rise of 0.51%.Zee Entertainment Enterprises price surged 3.05%, and open interest saw an increase of 0.49%.Axis Bank rose 2.59%,…
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Top Indian private banks, HDFC Bank, ICICI Bank and Axis Bank, have reported their Q4 results with the lenders showing a decent growth in its net profit and net interest income (NII) along with contracting net interest margin.
The fourth quarter of FY24 for these private sector banks was marked by a faster increase in deposits amid moderating credit growth.
ICICI Bank share price rallied over 4% to a record high on…
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Axis Bank on Thursday overtook Kotak Mahindra Bank to become the fourth largest lender by market capitalisation in India. The development comes after the shares of Kotak Mahindra Bank declined 10 per cent following restrictions by the RBI from onboarding new customers online and from issuing credit cards. Axis Bank‘s shares, on the other hand, jumped around 5 per cent on robust Q4 results.Kotak Mahindra Bank’s market capitalisation (mcap) currently stands at Rs 3.29 lakh crore as on 11:11 am on April 25 as its shares plunged 10 per cent. On the other hand, Axis Bank’s mcap stands at Rs 3.43 lakh crore after its shares jumped 4.82 per cent as it posted Q4 net profit of Rs 7,129…
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GIFT Nifty indicated that Indian equity indices BSE Sensex and NSE Nifty 50 may see a negative opening on Thursday. Here’s a look at the key stocks to watch in trade.
Stocks in Focus: GIFT Nifty traded down by 50 or 0.22% at 22,370 indicating a negative opening for domestic indices NSE Nifty 50 and BSE Sensex on Thursday. Previously, on Wednesday, the NSE Nifty 50 ended up by 34.40 points or 0.15% to settle at 22,402.40 while the BSE gained 114.48 points or 0.16% to 73,852.94.
“Indian markets lagged the Asian peers as Q4 earnings remained largely subdued with weak results from IT and a few index heavyweights results also disappointed. However, buoyed by strong manufacturing and…
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Axis Bank snatches the crown of 4th largest bank from RBI-hit Kotak in market value terms The Economic TimesAxis pips Kotak Bank as 3rd most valued private bank The Times of IndiaAxis Bank overtakes Kotak Mahindra Bank, becomes 4th largest lender by market cap India TodayAxis Bank pips Kotak Mahindra Bank to become 4th most-valued bank; share price targets for 2 banks & more Business TodayAxis Bank Surpasses Kotak Mahindra Bank To Become Indias Fourth-Largest Lender By Market-Cap Jagran English
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Global brokerage Morgan Stanley maintained an overweight rating on Dalmia Bharat, Macquarie recommended an outperform rating on Axis Bank, Jefferies maintained a hold rating on Kotak Mahindra Bank and Investec has a buy rating on Aurobindo Pharma.We have collated a list of recommendations from top brokerage firms from ETNow and other sources:Morgan Stanley on Dalmia Bharat: Overweight| Target Rs 2450Morgan Stanley maintained an overweight rating on Dalmia Bharat with a target price of Rs 2450. The company registered a big EBITDA miss led by both realizations and opex in March quarter results.Strong volumes were positive, but the global investment said that it seeks more details. The…
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Private lender Axis Bank’s board on Thursday approved the re-appointment of Amitabh Chaudhry as the Managing Director & Chief Executive Officer of the company for another three years, it said in a stock exchange filing.Chaudhry’s reappointment is subject to the approval of the Reserve Bank of India, it said. Post the central bank nod, Chaudhry would serve as the MD & CEO of Axis Bank for another three years with effect from January 1, 2025 up to December 31, 2027.Chaudhry, 59, joined Axis Bank as its MD & CEO w.e.f. January 1, 2019 having led HDFC Standard Life Insurance Company (HDFC Life) for over nine years.He obtained his engineering degree from Birla Institute of Technology and…
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Apr 25, 2024, 11:35:13 AM ISTA long buildup occurs when there is an increase in open interest and trading volumes alongside a rise in the price of the underlying stock in the Futures and Options segment, indicating a bullish trend in the market. In Tuesday’s trading session, five stocks experienced a buildup of fresh long positions. Here’s the list:iStockOI change on April 25: 7.65%Change in stock price: 2.13%AgenciesOI change on April 25: 6.87%Change in stock price: 3.92%AgenciesOI change on April 25: 5.79%Change in stock price: 5.65%ANIOI change on April 25: 4.31%Change in stock price: 2.24%AgenciesOI change on April 25: 3.07%Change in stock price: 2.24%Agencies
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Domestic benchmark indices Sensex and Nifty witnessed strong buying in afternoon trade on Dalal Street with bulls poised to extend rally to 5th session in a row. Bank stocks hogged the limelight.The S&P BSE Sensex opened nearly 300 points lower, and soon hit a low of 73,556 tracking losses in the US futures and Asian peers. The BSE benchmark, thereafter, erased losses and rallied to a high of 74,571 – up over 1,000 points from the day’s low led by aggressive buying in band stocks, mainly PSUs.The Sensex eventually ended the day with a gain of 486 points at 74,339. In the process, BSE index has rallied 1,849 points in the last five straight trading sessions. The NSE Nifty touched a…
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