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Bank Stocks Outlook for the week – 23 to 27.01.2017

Bank Stocks Outlook for the week – 23 to 27.01.2017


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Bank Stocks Outlook for the week – 23 to 27.01.2017
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Bank stocks are seen trading in range next week due to lack of sector-specific triggers unless HDFC Bank springs any surprises in its Oct-Dec earnings. Investors are expected to factor in the volatility expected in the bank stocks next week on account of rollovers of the January contracts on Wednesday. The rollovers will take place on Wednesday instead of the usual Thursday, when markets will be closed on account of Republic Day. As the index has closed below the important level of 19000, it is likely to remain volatile, going ahead. However, banks are likely to gain, hence it makes sense utilizing dips to Accumulate better placed stocks. Axis Bank, which fell 6% yesterday on account of poor asset quality numbers for Oct-Dec, will remain in focus next week. Other than HDFC Bank, Kotak Mahindra Bank and Indian Overseas Bank are likely to set the market trend as they will disclose their earnings for Oct-Dec in the coming week. HDFC Bank, which will detail its earnings on Tuesday, is likely to report a 13.2% onyear rise in net profit for Oct-Dec to 37.99 bln rupees, backed by healthy loan growth and stable asset quality.