Bank Nifty is making new highs. 5 stocks preferred by experts | Rare Techy


Today’s stock market: After reaching a record high in Thursday’s session, interest in buying bank stocks continued in early morning trading on Friday. At the opening bell today, the Bank Nifty index hit an all-time high of 43,339, setting a record high for the second consecutive session.

According to stock market experts, the rally in bank stocks is likely to continue as banks’ margins are expected to improve in the short to medium term as overseas loans for large corporates become more expensive compared to Indian lending agencies. they become Besides, the reduction in payments also helped the banks’ balance sheets.

On bank stocks to buy in the current rally, they advised investors to look at those banks that have low costs and should be pushing against their peers in terms of IT-enabled lending. They advised investors to buy stocks such as State Bank of India (SBI), Bank of Baroda, Canara Bank, Axis Bank and ICICI Bank.

On the reason why Bank Nifty hit a record high, Saurabh Jain, AVP – Research at SMC Global Securities said, “The reason for the rally in Bank Nifty can be attributed to three main reasons – the aggressive interest rate regime which overseas lending to large corporates compared to Indian lenders, the rise in interest rates is expected to improve Indian banks’ margins and reduced provisioning to strengthen the balance sheet of banking institutions. Today, the leveraged ratio of Indian banks is more than 100 which It also attracts shopping among the bulls of Dalal Street.

On the current chart pattern of Bank Nifty, Sumeet Bagadia, Managing Director at Choice Broking said, “Bank Nifty has formed a lower high higher pattern on the chart which indicates the continued trend of the index. Immediate target for Bank Nifty index 44,000, but when it closes. Above 44,000, we can expect more upside in the index.”

On the bank stocks to buy today SMC’s Saurabh Jain said, “In the current rally, one should look at those bank stocks that have an advantage over their peers in terms of IT-enabled lending and the cost of borrowing should be lower than its peers. On this parameter, I would recommend shares of Axis Bank, ICICI Bank, Bank of Baroda, SBI and Canara Bank to buy in the current rally.”

Choice Broking’s Sumeet Bagadia said ICICI Bank shares could go 980 to SBI shares may reach 1000 levels each soon 640 levels each in this time horizon. He advised investors to buy stocks of Axis Bank, Canara Bank and Bank of Baroda for the respective purpose. 950, 360 and 200 each.

Statement: The views and recommendations made above are those of individual analysts or brokerage firms, and not those of Mint. We advise investors to check with certified professionals before making an investment decision.

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