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Bhasin advises caution in markets due to potential US data impact and advises profit-taking. Ranks private banks and emphasizes PSU stocks for performance. Prefers BHEL, Ircon, LTIM, HCL Tech, and Wipro for investment. Bhasin says: "The faint-hearted or the larger-term retail should keep their SIPs going but take some money off the table whenever there is leverage."
The BSE Sensex was trading 187 points or 0.25% lower at 73,668. Nifty50 was trading at 22,345, down 57 points or 0.26% at around 9.19 am.
The US Federal Reserve's potential delay in cutting rates may impact the Reserve Bank of India's decision on beginning its rate easing cycle. Factors such as strong economic growth, tensions in West Asia, and inflation risks could lead to a delay in rate cuts. Economists anticipate a possible delay in RBI's rate cuts, with expectations shifting to October 2024 for any easing to begin. India's robust economic performance and inflation close to the RBI target suggest a need for caution in monetary policy decisions.
Latest personal loan interest rates: The lowest interest rate on a personal loan is advantageous as it lowers the total amount you must repay the lender. Here are the top banks offering the cheapest rate on personal loans.
Latest home loan interest rates: When evaluating the eligibility of your home loan, you should examine its cost. This includes interest payments, processing fees, administrative costs, prepayment penalties, and other expenses. Here is a list of banks’ home loan interest rates for April 2024 .
Kotak's comments came after data released in the US on Wednesday showed that inflation there rose more than expected in March. Year-on-year inflation increased 3.5%, the highest increase in six months, and higher than a 3.2% rise reported in February. "US inflation is higher than expected. Postpones US rate cuts to later, closer to US Presidential elections, if at all. Brent oil now $90. Will keep rates higher for longer worldwide including India," Kotak said on X.
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Get ready for global turbulence, China imploding: Uday Kotak warnsUday Kotak has warned of global economic turbulence as US inflation may delay rate cuts, keeping interest rates elevated. Kotak predicts US rate cuts postponed until closer to US elections while the rates will remain elevated in global economies including in India. Fed officials see key interest rate peaking, aiming to ease policy gradually. US inflation surges, dampening rate cut expectations.
Get ready for global turbulence, Uday Kotak says. Here’s whyThe billionaire business expects higher for longer rate regime worldwide including India and called China the only "wild card".
FD interest rate up to 8.1%: Top banks offering highest interest rates on 1-3 year fixed deposit tenuresHighest FD rates: Fixed deposits with terms ranging from one week to ten years are available for selection. Here are top banks fixed deposit interest rates for tenures ranging from 1 – 3 years.
Sensex falls nearly 300 points, slips below 74K ahead of RBI policy outcomeIndian blue-chip indices opened lower due to IT, metal, and auto stocks before RBI's monetary policy. Tech Mahindra, JSW Steel, L&T, and others showed mixed performance.
FPIs pare stakes in HDFC Bank, but not enough for ETF gushOverseas investors' stake in the bank fell in the March quarter but this fell short of index provider MSCI's requirements to increase the stock's weight on the index.
Sensex closes flat after volatile session, Nifty below 22,450Nestle India was the top Sensex laggard, falling 2.6% on worries over earnings growth in the sector. NTPC, Tech Mahindra, TCS, and Bharti Airtel ended with gains.
How to get new FASTag: You can now buy HDFC Bank FASTag, recharge any FASTag on Paytm appHow to recharge FASTag: The apex bank said that after March 15, 2024 no customer accounts, prepaid cards, Paytm Wallets, FASTags, NCMC cards, etc. will accept deposits, credit transactions, top-ups.
Nifty Bank finds support above 46,500; key levels to track on WednesdayPNB, Axis Bank, IndusInd Bank, and Federal Bank were the top gainers. The Nifty Bank found some resistance around the 20-DMA on the daily chart. A close below 46,406, which is also the 50-DMA, could trigger a fresh round of selling.
Index heavyweights, firm global cues drive Sensex 200 pts higher; Nifty nears 22,400Indian equity indices open higher, tracking Asian markets. In-line U.S. inflation data fail to impact expectations of a Fed rate cut in June. Domestic consumer prices ease slightly in February. BSE Sensex trades 0.31% higher at 73,893, Nifty50 at 22,377, up 0.19% at 9.25 am.
Goldilocks gone? Rs 40,000 crore FII sell-off in banks, other financial stocksFIIs have been selling financial stocks on Dalal Street, including heavyweight banks like HDFC Bank, Bajaj Finance, and Kotak Mahindra Bank, amid fears of the end of the Goldilocks period. The banks' Return on Assets is expected to decline due to pressure on margins and slower loan growth.
Bulls march on: Sensex crosses 74k milestoneThe Sensex gained 408.86 points, or 0.55%, to close at 74,085.99 after hitting a record 74,151.27. The Nifty rose 117.75 points, or 0.53%, to close at 22,474.05 after hitting an all-time high of 22,497.20. Both indices, which were trading lower earlier in the day, rebounded in the latter half.
Gold loan interest rates March 2024: Check full list of banks' latest gold loan interest ratesLatest gold loan interest rates: Gold loan can be availed for meeting expenses of sudden medical exigency, margin money for home loan and/or education loan, travel plans including consumption purpose.
Sensex drops 200 points on losses in IT stocks; Nifty tests 22,300Indian equity indices fell as Federal Reserve Chair's testimony and US jobs data approach. IT stocks like Tech Mahindra, TCS, Wipro, Infosys, HCL Tech lagged. L&T, Reliance Industries, Kotak Bank, JSW Steel, Tata Steel gained. IIFL Finance faced a 20% lower circuit after RBI's financing restriction.
Federal Bank tanks as hopes of Kotak top exec joining fade"We believe any stock run-up attributed to this news flow should come off," said brokerage Emkay Global's analysts Anand Dama, Kunaal N, and Marazbaan Dastur in a client note. "This raised hopes for the replacement... with a pedigreed external candidate from a large bank as MD."
Kotak Bank's rejig seen to help retain key executives and ensure stabilityOn Monday, the bank announced the appointment of KVS Manian as joint managing director and Shanti Ekambaram as deputy managing director with effect from March 1, 2024. Both were seen as internal candidates for the CEO position. Before this appointment, there were news reports that KVS Manian was in the fray for the CEO position at Federal Bank, where the incumbent isn't getting the regulatory nod for another term.
Market upbeat on first management rejig by new CEO of Kotak Mahindra BankOn Monday, the bank announced the appointment of KVS Manian as joint managing director and Shanti Ekambaram as deputy managing director with effect from March 1, 2024. Both were seen as internal candidates for the CEO position.
Nifty Bank reclaims 47K; buy on dips for a target of 48,000, suggest expertsHDFC Bank, Axis Bank, Kotak Mahindra Bank, and IndusInd Bank led the gains while some profit booking was seen in Federal Bank, Bandhan Bank and AU Small Finance Bank.
Kotak Mahindra Bank shares rally as management rejig reduces attrition riskAnalysts say the rejigs in top management largely just increase the coverage of responsibilities of existing senior management personnel.
Hot Stocks: Brokerage view on Kotak Mahindra, Glenmark Pharma, Biocon and RILThe risk-to-reward ratio is unfavourable at current levels. Earnings downgrades will continue due to a lack of new launches.
Nifty Bank closes higher but below 46,400. Experts recommend ‘buy on dips’Federal Bank, IDFC First Bank, IndusInd Bank, PNB, ICICI Bank were top gains while SBI, Axis Bank, Kotak Mahindra Bank and AU Small Finance Bank were top losers.
Aggregate NPA provisioning for banks dips in Q3After peaking at Rs 65,986.9 crore in the March 2021 quarter, these provisions have gradually cooled off since then. In the March 2023 quarter, they had dropped to Rs 17,956 crore, the lowest in five years, aided by a reversal in provisioning from IDBI Bank.
Sensex records worst single-day plunge in 18 months. Should you book profits?Sensex records worst daily performance in 18 months due to the decline in HDFC Bank shares. The HDFC Bank report card had a spillover effect on other banking stocks, with Nifty Bank crashing along with mid and smallcap indices. Rising bond yields in the US contribute to the negative sentiment in the global market.
Nifty Bank forms bearish candle, falls below 20-DMA; support seen at 47,000AU Small Finance Bank, IDFC First Bank, HDFC Bank, Axis Bank, and SBI were among the top losers, while buying was seen in Federal Bank, Bandhan Bank, and Kotak Mahindra Bank. The Nifty Bank index formed a bearish candle today and the next big support is placed around 47,000. A breach below the same could trigger another round of selling, suggest experts.
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