Nifty Bank at lifetime high - What Anil Singhvi said about India's banking sector and economy? VIDEO
The Nifty Bank index on Thursday hit a fresh lifetime high after nearly 10 months
Mumbai: The Nifty Bank index, which constitutes 12 leading stocks from the banking sector, on Thursday hit a fresh lifetime high after nearly 10 months. The index gained 1% to hit 41,840.15 in the morning. However, profit booking in banking stocks dragged the index as it settled at 41,209.20. The index has rallied 5.8 per cent so far in September, 25 per cent in three months while 17 per cent in one year.
Zee Business Managing Editor Anil Singhvi said that the leadership in the markets shall come from Nifty Bank. He had earlier recommended investing in bank stocks on a positional basis for at least 20-25 per cent returns.
With Nifty Bank hitting a fresh lifetime high, Singhvi said that the rally in banking stocks represents the power of the banking sector and the banking sector represents the power of the economy and the economy represents the power of our nation.
As many as 3 banks including State Bank of India (SBI), ICICI Bank and IDFC First Bank hit a fresh 52-week high in today's session. ICICI Bank and SBI surged 2 per cent and 1.1 per cent, respectively. IDFC First Bank was the top gainer as it advanced 3.73 per cent to close at Rs 52.80 apiece. Indian Bank, not a component of Nifty Bank, also reached a new 52-week high as the scrip moved around 1 per cent in intraday deals.
बाजार में सेलिब्रेशन का मौका!
लाइफ टाइम हाई पर बैंक निफ्टी
बैंक निफ्टी ने 41,840 का रिकॉर्ड स्तर छुआ#LifeTimeHigh #banknifty @AnilSinghvi_ @deepdbhandari @sanjiv_bhasin pic.twitter.com/3Ammp7IhtN
— Zee Business (@ZeeBusiness) September 15, 2022
Banking stocks have witnessed a significant surge in investors’ interest due to improvement in fundamentals, buoyant growth outlook, robust balance sheets and sanguine asset quality expectations. Strong buying by FIIs is also a key factor that is advancing the banking stocks and thus the overall markets.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
Gold and Silver rate today (May 14, 2024): Precious metals trade in green; yellow metal above Rs 72,000 once again, white metal near Rs 85,350
RCB vs CSK IPL 2024 Ticket Booking Online: Where and how to buy RCB vs CSK tickets online - Check IPL Match 68 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
TBO Tek IPO Listing LIVE Update: Bumper Debut! Share list at 55% premium - Buy, sell or hold? Check Anil Singhvi's view
06:02 PM IST