Nifty Outlook:
Equity
benchmarks recouped previous session's losses on Monday, ending at
fresh record closing high as investors cheered better macro data that
raised hopes for rate cut. Even likely early start to the monsoon also
lifted sentiment. The 30-share BSE Sensex was up 133.97 points at
30,322.12 and the 50-share NSE Nifty rose 44.50 points to 9,445.40,
backed by banks, FMCG, metals and pharma stocks.
Bank Nifty Outlook:
After State
Bank of India (SBI) and LIC Housing Finance, ICICI Bank, India’s
largest private sector bank, on Monday announced its decision to reduce
interest rates by up to 30 basis points (bps) for home loans up to Rs 30
lakh in its bid to boost affordable housing loan segment.
With
this reduction, salaried borrowers can avail home loans at among the
lowest rates in the industry. Salaried women borrowers will get home
loans at 8.35 percent and others at 8.40 percent, ICICI Bank said in a
statement. The reduced rate will be effective from May 15, 2017 for new
borrowers. Further, borrowers of ICICI Bank can also choose to link
their home loans with I-MCLR-6 Months or I-MCLR-1 Year, claiming to be
the first bank to offer such flexibility to customers.
Nifty Trends
|
| R1 | 9470 |
| R2 | 9535 |
| S1 | 9370 |
| S2 | 9280 |
|
|
Technical Outlook:
Top Gainers
|
| TATASTEEL | 456.45 |
| HINDALCO | 198.70 |
| DRREDDY | 2,667.50 |
| BOSCHLTD | 24,135.00 |
| LUPIN | 1,285.00 |
Top Losers
|
| AUROPHARMA | 613.60 |
| INFY | 953.25 |
| EICHERMOT | 28,915.05 |
| INFRATEL | 372.00 |
| HEROMOTOCO | 3,518.00 |
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