The market momentum has turned quite strong after three days of consolidation, and to sustain the same trend the Nifty 50 needs to hold on to the 22,300 mark, a pivotal support level. As long as the index trades above the same level, the gradual march towards 22,700, followed by 22,800, will be possible in the coming sessions of the May series, experts said.On April 25, the monthly expiry day for ...

Indian equity markets are likely to open lower on Monday as ahead of the trading session, SGX Nifty was in red, hinting at a negative start for NSE Nifty 50, and BSE Sensex. “We expect volatility to remain high as we have important events like MPC’s monetary policy review meet and monthly derivatives expiry scheduled during the week. Besides, the prevailing pressure in the global indices would...

SBIN (standalone) reported a 7% y-o-y decline in Net Income owing to MTM losses. Core PPOP ( 14.4% y-o-y) was 3.6?low our estimate, as a weaker than expected NIM (13bp q-o-q decline) drove weakness in NII ( 13% y-o-y, 6?low estimate). Fee income was better ( 18% y-o-y), while expenses were controlled ( 1.4% y-o-y) resulting in a core C/I ratio of 51.8% (300bp lower y-o-y). While gross slippages we...

State Bank of India is expected to continue its strong earnings growth in the April-June quarter, growing net profit in double digits on an year-on-year basis. Analysts expect SBI to report robust net profit growth in the fiscal first quarter, aided by healthy growth in net interest income and a reduction in provisions. However, SBI’s net profit is widely expected to fall on a quarter-on-quar...

Demand for credit will lead to excess liquidity being deployed as loans in the normal course and there may be no further hikes in the cash reserve ratio (CRR), State Bank of India (SBI) chairman Dinesh Kumar Khara told Shritama Bose. The country’s largest lender will take its Yono app to customers of all banks, with payments and analytics playing a major role in the process, he added. Edited e...