Bank stocks were mostly lower after the latest data showed slower loan as well deposit growth of the banking sector than the Reserve Bank of India's full-year projection. Punjab National Bank (down 1.2%), Bank of Baroda (down 2.63%), Bank of India (down 3.53%) and Union Bank of India (down 2.64%) dropped. State Bank of India was unchanged at Rs 1,621.60.
Banks' loans grew about 11% to Rs 58.46 lakh crore, while deposits rose 12% to Rs 75.64 lakh crore during the period from 22 March 2013 to 4 October 2013. The RBI has projected loans to grow at 15% and deposits by 14% in the current fiscal year ending in March 2014. Banks' investments in government securities rose 12% to Rs 22.47 lakh crore during the period from 22 March 2013 to 4 October 2013.
NOTE : AFTER 1ST TGT HIT KINDLY REVISED SL TO COST PRICE !
TRADING CALLS
CASH
BUY UNIPHOS 155.60 SL 152 TGT 160 / 165
BUY MCLEOD RUSS 280 SL 275 TGT 285 / 291
BUY YESBANK 336 SL 328 TGT 343 / 349
BUY YESBANK 336 SL 328 TGT 343 / 349
SELL UNIONBANK 112.50 SL 116 TGT 108 / 103
SELL IDEA 183 SL 187 TGT 179 / 175
FO
FO
BUY RECL 178 SL 174 TGT 183 / 187
DISCLAIMER : THE AUTHOR IS NOT RESPONSIBLE FOR ANY LOSSES DURING ANY TRADE THIS IS MY VIEW !!
The market breadth, indicating the overall health of the market, was negative. On BSE, 1,240 shares declined and 1,222 shares gained. A total of 146 shares were unchanged. The breadth alternately swung between positive and negative zone during the last one hour or so of trade.
The total turnover on BSE amounted to Rs 1929.03 crore, higher than Rs 1902.47 crore on Tuesday, 15 October 2013. Indian financial markets were closed on Wednesday, 16 October 2013, on account of Bakri Id.
No comments:
Post a Comment