Bank Stocks Outlook For The Week - 31.12.2018 To 04.01.2019
Stocks of banks are seen moving in a range next week on lack of cues in the domestic market, as
we are likely to stay on the sidelines towards the end of 2018 and beginning of the new calendar
year. However, the underlying sentiment continues to be positive led by bullish rollovers to the
January derivative series on Thursday, and on news of 286-bln-rupee worth of recapitalisation for
seven state-owned banks. Broader market cues, which are likely to track global equities, are seen
lending direction to the sector, amid the partial government shutdown in the US and persistent volatility in crude oil prices. The partial shutdown of the US government is likely to extend to January, as no deal has yet been reached between the Democrats and the US president on funding a wall on the US-Mexico border. Any developments with respect to the merger of Dena Bank and Vijaya Bank with Bank of Baroda will also lend cues to the sector.
Source : Cogencis Information Services Ltd.
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Stocks of banks are seen moving in a range next week on lack of cues in the domestic market, as
we are likely to stay on the sidelines towards the end of 2018 and beginning of the new calendar
year. However, the underlying sentiment continues to be positive led by bullish rollovers to the
January derivative series on Thursday, and on news of 286-bln-rupee worth of recapitalisation for
seven state-owned banks. Broader market cues, which are likely to track global equities, are seen
lending direction to the sector, amid the partial government shutdown in the US and persistent volatility in crude oil prices. The partial shutdown of the US government is likely to extend to January, as no deal has yet been reached between the Democrats and the US president on funding a wall on the US-Mexico border. Any developments with respect to the merger of Dena Bank and Vijaya Bank with Bank of Baroda will also lend cues to the sector.
Source : Cogencis Information Services Ltd.
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