Bank Stocks Outlook For The week - 23 to 27.10.2017
Bank Stocks Outlook For The week - 23 to 27.10.2017
( www.rupeedesk.in )
Weak Axis Bank results for Jul-Sep have dampened sentiment for bank stocks and the key HDFC Bank results on Tuesday, will be a crucial indicator for the health of the banking sector and the trend for their stocks in the coming week. There is no clear trend for bank stocks in the coming week, with earnings for Jul-Sep likely to provide direction. On the technical side, despite the addition of sell positions following weak Axis Bank Jul-Sep results, we see support for Bank Nifty around 24,000 levels. Seen positive, Ambuja Cements' earnings eyed Mixed; Infosys, HCL Tech earnings, guidance eyed Apart from HDFC Bank, the other key banks that will declare results in the coming week are Kotak Mahindra Bank, RBL Bank, IDFC Bank, YES Bank, Vijaya Bank, ICICI Bank and Canara Bank. Most of these banks being private banks that have performed better than state-owned bank peers and hopeful that Axis Bank results were an aberration and other banks will showcase better results for Jul-Sep. However, there is a positive bias for retail-oriented banks such as HDFC Bank, RBL Bank and even IndusInd Bank.
Source : Cogencis Information Services Ltd.
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( www.rupeedesk.in )
Weak Axis Bank results for Jul-Sep have dampened sentiment for bank stocks and the key HDFC Bank results on Tuesday, will be a crucial indicator for the health of the banking sector and the trend for their stocks in the coming week. There is no clear trend for bank stocks in the coming week, with earnings for Jul-Sep likely to provide direction. On the technical side, despite the addition of sell positions following weak Axis Bank Jul-Sep results, we see support for Bank Nifty around 24,000 levels. Seen positive, Ambuja Cements' earnings eyed Mixed; Infosys, HCL Tech earnings, guidance eyed Apart from HDFC Bank, the other key banks that will declare results in the coming week are Kotak Mahindra Bank, RBL Bank, IDFC Bank, YES Bank, Vijaya Bank, ICICI Bank and Canara Bank. Most of these banks being private banks that have performed better than state-owned bank peers and hopeful that Axis Bank results were an aberration and other banks will showcase better results for Jul-Sep. However, there is a positive bias for retail-oriented banks such as HDFC Bank, RBL Bank and even IndusInd Bank.
Indusindbk - Down
Kotakbank - Down
Icicibank - Down
Kotakbank - Down
Icicibank - Down
Yesbank - Down
Pnb - Down
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Source : Cogencis Information Services Ltd.
