November 25: Banking stocks to be in focus
DSIJ Intelligence / 25 Nov 2016
The markets on November 24 closed downward, with Sensex losing over 191 points and Nifty ending lower at 67.80 points. The Asian markets on November 25 have opened positive with SGX Nifty as at 9.00 am trading in positive, up by 53.50 points. Therefore, the Indian markets are most likely to open in green.
The markets on November 24 closed downward, with Sensex losing over 191 points and Nifty ending lower at 67.80 points. The Asian markets on November 25 have opened positive with SGX Nifty as at 9.00 am trading in positive, up by 53.50 points. Therefore, the Indian markets are most likely to open in green.
The banking stocks will be in focus, especially that of SBI and Union Bank of India. State Bank of India earlier announced that it proposes to raise around Rs 5681 crores, and has fixed a price at Rs 269.59 per share for issue of 21 crore shares to government on a preferential basis. On the other hand, Union Bank of India has informed BSE that it has issued 7500 redeemable, unsecured subordinated basel III compliant tier II bonds eligible for inclusion in tier 2 capital.
The Bankex index which closed at 20938 is expected to make a strong opening on November 24. The above two stocks are expected to keep the Bankex index ticking forward.
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