Nifty Outlook:
Equity
benchmarks have begun the week on a negative note, with indices falling
over half a percent. Losses in index heavyweights, weak global cues and
concerns on poor monsoon forecast may have dragged the indices.The
30-share Sensex was down 184.25 points at 29237.15, while the Nifty was
down 62.80 points at 9045.20. The market breadth indicated negativity as
1,167 shares advanced against a decline of 1,631 shares declined, while
234 shares are unchanged.
Bank Nifty Outlook:
The
intention is right but will the government be able to foot the bill
which is required to repair PSU banks? PSU Banks are on inflection point
and further rally will only depend on the reform process initiated by
the government. According to Capitaline data quoted by a media report,
the total bad loans of 41 banks stood at Rs 7 lakh crore in the December
quarter of FY17, up 60 per cent from the year-ago period.In Q2 FY17,
gross NPAs of the same set of banks stood at Rs 6.74 lakh crore.
According to RBI’s Financial Stability Report, the gross NPA ratio
climbed to 9.1 per cent in September 2016 from 5.1 per cent in September
2015.
Nifty 50 Gainers
|
| Stock | Price |
| BANKBARODA | 171.90 |
| INFRATEL | 315.25 |
| INDUSINDBK | 1405.00 |
| POWERGRID | 195.80 |
| HDFC | 1477.00 |
Nifty 50 Losers
|
| Stock | Price |
| IDEA | 87.60 |
| TATASTEEL | 475.90 |
| HINDALCO | 188.20 |
| RELIANCE | 1248.50 |
| HCLTECH | 851.65 |
Nifty Resistance & Support
|
| R1 / R2 | 9150/9200 |
| S1 / S2 | 9040/9000 |
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