Bank Stocks Outlook For The Week – 05 to 09.02.2018

Bank Stocks Outlook For The Week – 05 to 09.02.2018

             Equity Cash/Futures/Options Segment 

 The shares of public sector banks are seen remaining under pressure in the coming week, after the Union Budget for 2018-19 (Apr-Mar) announced a higher than expected fiscal deficit target of 3.3%. Higher then expected fiscal deficit will lead to surge in bond yields, leading to treasury losses. The shares of some private banks are seen rebounding somewhat next week, after most bank stocks ended this week in the red. The expected bounce-back follows a slew of Budget announcements promoting the rural and agriculture segment, and lending to micro, small and medium enterprises. This is seen leading to higher credit off-take as well as improvement in asset quality in the agriculture segment. Shares of State Bank of India and Bank of Baroda will be in focus next week as the banks announce their Oct-Dec earnings. Bank of Maharashtra, Punjab National Bank, City Union Bank, Dhanlaxmi Bank, Andhra Bank, Central Bank of India, Syndicate Bank and UCO Bank will also declare their results in the coming week. Union Bank will declare its results on Saturday. Bank Stocks Outlook: PSU bank shares seen under pressure next week.

Source : Cogencis Information Services Ltd.

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