Today Nifty/Bank Nifty New Report
Equity benchmarks have begun the week on a negative note, with indices falling over half a percent. Losses in index heavyweights, weak global cues and concerns on poor monsoon forecast may have dragged the indices.The 30-share Sensex was down 184.25 points at 29237.15, while the Nifty was down 62.80 points at 9045.20. The market breadth indicated negativity as 1,167 shares advanced against a decline of 1,631 shares declined, while 234 shares are unchanged.
Bank Nifty Outlook:
The intention is right but will the government be able to foot the bill which is required to repair PSU banks? PSU Banks are on inflection point and further rally will only depend on the reform process initiated by the government. According to Capitaline data quoted by a media report, the total bad loans of 41 banks stood at Rs 7 lakh crore in the December quarter of FY17, up 60 per cent from the year-ago period.In Q2 FY17, gross NPAs of the same set of banks stood at Rs 6.74 lakh crore. According to RBI’s Financial Stability Report, the gross NPA ratio climbed to 9.1 per cent in September 2016 from 5.1 per cent in September 2015.
Nifty 50 Gainers
Nifty 50 Losers
Nifty Resistance & Support
R1 / R2 9150/9200
S1 / S2 9040/9000