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[hfe_template id='11223'] [ad_1] Shares of Punjab National Bank (PNB) are expected to be in focus on Friday, April 11, following the lender’s announcement of a downward revision in its Repo Linked Lending Rate (RLLR). The bank has revised its RLLR from 9.10% to 8.85% (including a 20 basis points spread) effective April 10, 2025. This move signals a marginal reduction in borrowing costs for customers linked to RLLR-based loans. The revision, though modest, comes at a time when interest rate trends remain closely watched by investors amid evolving inflation and monetary policy signals. PNB has clarified that there will be no changes to its existing Marginal Cost of Funds Based Lending Rate (MCLR) and base rate. Additionally, the bank informed the exchanges about a change in senior management roles. Lalit Taneja, who previously served as GM of the HO MSME & MCC Division, has now been appointed as Zonal Manager – GM of the Zonal Office in Chandigarh. In a corresponding m...

[hfe_template id='11223'] [ad_1] Indian frontline indices ended the week with 2.3% cuts amid selling pressure in most sectors, primarily in banks, auto and pharma. On Friday too, they ended lower. While the S&P BSE Sensex settled at 77,378.91, down by 241.30 points or 241.30%, the broader Nifty closed at 23,431.50, lower by 95 points or 0.4%. Commenting on the day's action, Rupak De, Senior Technical Analyst at LKP Securities said that he sees the bearish pressure continue and to intensify as the index closed below 23,500 for the first time in several days. "The index remains below the crucial 50 EMA, reaffirming a bearish trend. Furthermore, the RSI remains in a negative crossover, signaling weak momentum. Sentiment stays subdued in the short term, with the potential for a decline toward 23,300 or 23,000. On the upside, resistance is observed at 23,550–23,600," De said. Here are 5 stock recommendations for Monday: Buy LTIMindtree at Rs 6,124.40 Stop Lo...

[hfe_template id='11223'] [ad_1] After the Indian government confirmed two cases of Human Metapneumovirus (HMPV) in Karnataka amid reports of a virus outbreak creating havoc in China, stock market investors chose to play it safe, with the Sensex falling over 1,200 points and Nifty losing around 1.4%. The fear gauge index, India VIX, jumped 13% as a widespread sell-off was seen across mid and small-cap stocks as well as in various sectors. The Sensex fell over 1,200 points to its day's low of 77,960, while the Nifty tumbled near the 23,600-level. Metals, PSU banks, real estate, oil and gas and financials were among the worst-hit sectors. Union Bank of India shares fell 7% while Bank of Baroda, HPCL, BPCL, Tata Steel, Adani Energy Solutions and PNB were down around 4-5% each. Among heavyweights, HDFC Bank, Reliance Industries (RIL), and Kotak Mahindra Bank were among the biggest drags on the Sensex. What triggered stock market crash today? While investors were focused ...

[hfe_template id='11223'] [ad_1] Shares of PSU bank stocks like UCO Bank and Central Bank of India rallied up to 8% on Wednesday as a three-day meeting of the Reserve Bank of India (RBI)'s rate-setting panel began today in which brokerages expect Governor Shaktikanta Das to cut cash reserve ratio (CRR). Global brokerage firm Citi said that if the CRR is cut by 50 basis points, the biggest NII (net interest income) benefit would be for PSU banks like PNB, SBI and Bank of Baroda. Within private banks, it said lenders like Federal Bank, HDFC Bank, and Axis Bank will gain. Nifty PSU Bank index was up around 1% with UCO Bank leading the upside with an 8% rally. Central Bank, Indian Overseas Bank, and Punjab & Sind Bank were up about 5-6% each. Among private banks, HDFC Bank was up around 2% and was one of the biggest gainers in Nifty and Sensex. In the RBI MPC meeting, the decision of which would be announced on December 6, a rate cut is not expected but the central b...

[hfe_template id='11223'] [ad_1] Equity markets traded sideways throughout the session to close with losses as FIIs continue their selling streak. "Markets are facing pressure and tend to remain volatile amid uncertainty around US presidential elections slated to be held on November 5th. The second leg of Q2 results will resume in the next week post-Diwali. Market seems to have taken support at lower levels and is likely to consolidate over the next few days," said Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS GIFT Nifty (Earlier SGX Nifty) signals a negative start GIFT Nifty on the NSE IX traded lower by 68.50 points, or 0.28 per cent, at 24,305, signaling that Dalal Street was headed for negative start on Thursday. Tech View: If the index sustains above 24,500, it may extend gains to the 24,600–24,700 range, with 24,070 acting as key support. As long as it holds abo...

[hfe_template id='11223'] [ad_1] Equity markets managed to continue pull back from lower levels for the second day with recovery coming in the last hour and closed with gains "After 8% fall from all-time high, Nifty is witnessing some pull back ahead of Diwali, as investors get into festive mood. Overall, we expect the markets to remain range bound amid uncertainty with regard to US elections to be held next week. However we could continue to see sector and stock specific action as more companies announce their quarterly earnings," said Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal. Here's breaking down the pre-market actions: STATE OF THE MARKETS GIFT Nifty (Earlier SGX Nifty) signals a muted start GIFT Nifty on the NSE IX traded lower by 11 points, or 0.04 per cent, at 24,439, signaling that Dalal Street was headed for muted start on Wednesday. Tech View: Nifty could take support from the above band while on upmoves it can face resi...

[hfe_template id='11223'] [ad_1] Shares of rate-sensitive stocks - banks and NFBCs - rallied up to 4% on Wednesday morning after the Reserve Bank of India (RBI) changed its policy stance to 'neutral' from 'withdrawal of accommodation' earlier. Led by gains in financials, the Sensex also jumped 500 points. The change in stance is being seen as a step towards the beginning of a rate cycle in December. Shares of NBFCs led the gains as at the outset of a rate cut cycle NBFCs benefit more than banks. Shriram Finance was the top gainer in Nifty and was up over 4%. Other NBFCs Cholamandalam Investment and Bajaj Finance were up around 3% each. Nifty Bank was also up around 1%, with Axis Bank, SBI, PNB, and ICICI Bank leading the gains with an upside of 2-3% each. Other rate-sensitives like auto and real estate stocks also rallied up to 6% post the announcement. "This change in RBI's stance opens the door for possible interest rate cut in December or Febr...

[hfe_template id='11223'] [ad_1] While Nifty Bank has logged in double digit returns over the last 1 year, its performance against broader Nifty50 and its other sectoral peers remains subpar. With rising deposit cost and moderation in net interest margins (NIMs), experts remain wary of the pack, toning down their expectations from the sector that has the largest weight on the D-Street benchmarks. The 12-stock Nifty Bank has grown by 16% over a 1-year period versus Nifty's 29% in the same time. Realty towers over its other sectoral peers followed by power stocks. Nifty Realty's 1-year returns stand at 83% while BSE Power has yielded 79% returns. Others including Nifty IT, Nifty Pharma, Nifty Oil & Gas, Nifty Auto and Nifty Metal have risen between 36% and 75%. Meanwhile, BSE Cap Goods index has jumped by 59%. The index's underperformance is largely on the back of lackluster show by the private banks. In this, HDFC Bank has given returns of just 3% over a 1...

[hfe_template id='11223'] [ad_1] Fifteen stocks are under F&O trade ban on Tuesday viz. Aditya Birla Capital, Aditya Birla Fashion & Retail (ABFRL), Bandhan Bank, Biocon, Birlasoft, Granules India, Hindustan Copper, India Cements, Indiamart Intermesh, LIC Housing Finance, Manappuram Finance, Punjab National Bank (PNB), RBL Bank, Steel Authority of India (SAIL) and Sun TV Network. Gujarat Narmada Valley Fertilizers and Chemicals (GNFC) has moved out of the ban. The Future & Options contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%. Traders who trade in index do not encounter a situation of security ban. For Aditya Birla Capital, the MWPL stood at 84.1% on Friday with OI reported by Trendlyne at 76 million. It was down 0.5% from the previous session.The MWPL for ABFRL stood at 93.2% on Friday with OI reported b...

[hfe_template id='11223'] [ad_1] Shares of state-owned lender Punjab National Bank (PNB) rallied 7% to the day’s high of Rs 128 on BSR after reporting a 159% year-on-year (YoY) jump in its net profit for the quarter ended June 30, 2024, while the bank’s net interest income (NII) rose to Rs 10,476 crore, up by 10% YoY. The net profit for the period stood at Rs 3,252 crore versus a PAT of Rs 1,255 crore in the corresponding quarter of the previous financial year. The global and domestic net interest margins of the bank stand at nearly 3%. Total Income of the bank was booked at Rs 32,166 crore for Q1 FY25 from Rs 28,579 crore for Q1 FY24, recording a growth of 12.5%. The GNPA ratio for the quarter has improved by 275 bps on YoY basis to 4.98% from 7.73% in June 2023, while its NNPA ratio was up by 138 bps YoY to 0.60%. Among other highlights, the savings deposits registered a 4.4% YoY growth, increasing to Rs 4,84,377 crore and its current deposits and CASA Deposits stood a...

[hfe_template id='11223'] [ad_1] Mumbai: Banks are preparing for collective equity fundraise of nearly ₹40,000 crore in the second half of this financial year, show data compiled by ET. They are expected to use the fresh capital to reinforce balance sheets, mainly to support expansion. The boards of state-run Punjab National Bank (PNB) and Bank of Maharashtra have approved proposals to raise ₹7,500 crore each. Union Bank of India said it may opt for a qualified institutional placement (QIP) as well as other equity routes for raising ₹6,000 crore. PNB, Union Bank of India, Bank of Maharashtra and Central Bank of India will seek shareholder approval for fundraising at their upcoming annual general meetings. "PNB needs immediate funds because they have had a strong sequential growth of 5%, and if growth accelerates further, they will need capital," said Nitin Aggarwal, banking analyst at Motilal Oswal. At "Central Bank of India and Bank of Maharashtra... gove...

[hfe_template id='11223'] [ad_1] Nifty Bank saw a near-5,000 points or 10% intraday fall on Tuesday as investors made mincemeat of the markets after poll trends showed a spirited fight by the INDIA alliance around half past noon against the exit polls which had given a thumping win to the Bharatiya Janata Party (BJP) led NDA alliance. These are trends and the final outcome could be different when the last vote is counted. Nifty Bank fell to the day's low of 46,077.85 with all 12 stocks in the index trading in the red. Index heavyweights HDFC Bank and ICICI Bank were among the top three laggards and behind Reliance Industries (RIL) to have triggered the downfall. The banking gauge ended at 46,928.60, down by 8%. State-run State Bank of India (SBI) also contributed to the downfall in good stead. SBI fell by a mammoth 19% to hit an intraday bottom of Rs 732. The counter which crossed the market capitalisation of Rs 8 lakh crore while hitting all time high saw its market...