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BUY ICICIBANK FUTURE
ABOVE 358 TGT 366.60/ 376 SL 348.50
Friday's session has ended on negative note. The Sensex closed at 35,742, down 690 points lower
while Nifty closed at 10,754, down 198
points . We have seen a
pre-Santa Claus rally in the sense that last seven or eight sessions, the market
have run up from the lows. Market
to closely track GST council meet due tomorrow, likely to see reduction
of tax slabs for several items. Global markets to brace more volatility from
the ongoing trade tensions and slowdown in economies. Shares of Bata India hit a new high of Rs 1,135,
up 3% on the intra-day trade on Friday
in otherwise weak market, Bandhan
Bank in talks with Gruh Fin to merge with itself, RIL, Infosys, TCS and
HDFC Bank were the major contributors to the Sensex’s decline. Market ignored positive news of PSU bank
recapitalisation and selling was seen across sectors ICICI Bank continues to see smooth
growth on the liability side.. ICICI Bank is focusing on increasing SA
accretion from self-employed customers where presence is low. The bank does not
intend to increase deposit rates to gain business on the liability side. Unlike
certain new age banks that are acquiring new customers at a faster rate by
hiking rates, ICICI Bank will not increase rates drastically. A sudden change
in rates might see a drag on margins assuming the product mix remains constant.IOC, a top losers, ended at Rs 139.75, down 5.48 % with
market capitalisation at Rs 135,673crore
The IT
and Auto index were the biggest losers which shed 2 percent. Infra index was
dragged by Adani Ports, Adani Power, GMR Infra, NBCC, Tata Comm and Tata Power.
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