Analysts have raised earnings estimates and target prices for State Bank of India, and expect a further rerating on account of its lower slippages, fall in credit costs and attractive valuations, among others.
Money Market
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Stocks To Watch: Britannia, Hero MotoCorp, IRFC, M&M, Pfizer, PNB, Tata Power
Stocks To Watch : Indian equities reversed losses on the weekly options expiry session to end higher for the fourth straight day, scaling new highs in the process. The S&P BSE Sensex ended 0.7% higher at 50,614 while the NSE Nifty 50 index gained a similar quantum to end at 14,895. Both benchmarks made an intraday record of 50,687 and 14,913 respectively during the session.
Asia Hedge Funds Skirt Reddit Rout as China-focused Firms
Asia hedge funds largely avoided the Reddit turmoil that hammered some global peers last month, with many posting gains led by LyGH Capital and Pinpoint Asset Management. Snow Lake Capital and WT Asset suffered losses.
Ether Follows Bitcoin to Record High Amid Dizzying Crypto Rally
The digital currency Ether reached a record on Monday a day after Bitcoin breached $34,000 for the first time as the surge in cryptocurrencies continues.
TRADERS STILL CONFIDENT CORONAVIRUS VACCINES WILL LIFT THE MARKETS
Traders remain positive in the wake of the news of two coronavirus vaccines that could eventually bring the pandemic under control and lift the global economy out of its slump. While more profit-taking is likely short-term after the gains for stock markets in particular over the past nine days, it is unlikely to last long.
Hedge funds cut bullish bets on U.S. crude as demand outlook worsens
Crude as demand outlook – Hedge funds and money managers cut bullish wagers on U.S. crude, data showed on Friday, as rising coronavirus cases around the world weakened the demand outlook, and a rise in OPEC output last month also weighed on the market.
India Q1 GDP Outlook: Economy is Forced to Shutdown And Restart Mode
India Q1 GDP was likely to see its lowest point of growth this year during the April-June quarter at -15.2%, according to a Nomura report on Wednesday.