Bank Stocks Outlook For The Week - 21 To 25.05.2018
Stocks of banks are seen extending losses next week as most banks announcing their Jan-Mar earnings are expected to report a decline in their bottomline. The sector should largely track broader indices, where sentiment is seen subdued due to a sustained rise in crude oil prices, movement in US treasury yields, and uncertainty surrounding a possible US-China trade deal. With some of the major public sector banks scheduled to declare their Jan-Mar and 2017-18 (Apr-Mar) earnings next week, results will take precedence in terms of cues for the sector. Thus, sentiment is seen weak and shares may extend losses as most of the banks are expected to declare losses for the reporting quarter.
State Bank of India, Andhra Bank, Dhanlaxmi Bank, City Union Bank, Bank of Baroda, Karur Vysya Bank, Corporation Bank, Bank of India, and Indian Overseas Bank will declare their earnings next week.
Source : Cogencis Information Services Ltd.
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Stocks of banks are seen extending losses next week as most banks announcing their Jan-Mar earnings are expected to report a decline in their bottomline. The sector should largely track broader indices, where sentiment is seen subdued due to a sustained rise in crude oil prices, movement in US treasury yields, and uncertainty surrounding a possible US-China trade deal. With some of the major public sector banks scheduled to declare their Jan-Mar and 2017-18 (Apr-Mar) earnings next week, results will take precedence in terms of cues for the sector. Thus, sentiment is seen weak and shares may extend losses as most of the banks are expected to declare losses for the reporting quarter.
State Bank of India, Andhra Bank, Dhanlaxmi Bank, City Union Bank, Bank of Baroda, Karur Vysya Bank, Corporation Bank, Bank of India, and Indian Overseas Bank will declare their earnings next week.
Source : Cogencis Information Services Ltd.
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