Are PSU banks now a buying opportunity? The only dove turns a hawk at RBI

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ET Markets Daily Brief | Thu, Feb 22, 2018 | 07:10 PM IST Follow ET Markets

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Tech View: Nifty50 makes small bullish candle; consolidation may continue The consolidation is underway and downside looks capped, say analysts. No need for more than 3 PSU banks, says Rakesh Jhunjhunwala Sooner or later, there will be a political will to privatise banks, Jhunjhunwala said. F&O: Bank Nifty forms Small Bullish Candle, springs hope Nifty futures closed flat to negative with a loss of 0.08 per cent at 10,384.

Interview One to One "There is no big reason to worry from here but at the same time, the market is going to consolidate."... Vikas Khemani , Edelweiss Securities

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Top Mutual Funds SCHEME NAME RATING 1 M(%) 6 M(%) 1 YR(%) 3 YRS(%) JM Core 11 Direct Plan-Growth -6.03 1.60 19.97 13.91 Mirae Asset India Opportunities Fund Direct- Growth -6.51 6.78 20.54 12.75 Kotak Select Focus Fund Direct-Growth -5.12 4.24 17.75 12.31 Invesco India Growth Fund Direct-Growth -4.72 8.96 24.95 12.01 Mirae Asset India Opportunities Fund Regular- Growth -6.56 6.40 19.69 11.89 Featured DSP BlackRock Small and Mid Cap Direct Plan-Growth ★★★★★ -6.63 9.16 17.96 15.52 Start SIP

Market Watch 22 Feb | 07:10PM| SENSEX NIFTY USD/INR GOLD 33819.50 ↓-25.36 10382.70 ↓-14.75 65.06 ↑0.28 30447.00 ↓-29.00

Gainers Losers 22 Feb, 2018, 07:10PM IST, PTI|View All Company Name Live Price Change (%) Volume High Low Tara Jewels Ltd. 15.05 19.92 108976 15.05 12.00 PVV Infra Ltd. 19.90 19.52 172585 19.95 17.35 IFL Enterprises Ltd. 10.75 19.31 12000 10.75 10.70

Tweet of the day... Goldman cuts price targets for public sector banks after PNB fraud

FROM THE NEWSPAPER

Fixed deposits beat PSU bank stocks by a mile in race for better returns Mutual fund houses are also positive on private sector banks rather than the public lenders. PSU bank stocks down 20-60% from peak levels; is there buying opportunity? The nature of PNB fiasco has diminished the confidence level in the bank in particular. Has Reserve Bank of India lost its only dove? Most of the six members of the monetary policy committee turned hawkish at the Feb meeting. PNB scam a marriage made in heaven, says Shankar Sharma Experts don't foresee growth coming back to the PSU bank sector in the next 2-3 quarters. After 2,000% rally in 5 years, can this smallcap reward investors again? Subdued product prices are likely to weigh on the stock in the short term.

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