Thursday, 18 April 2024



LATEST NEWS Vigilance Bureau nabs ASI for accepting Rs 15,000 bribe J&K at threshold of mega development under PM Modi’s leadership : Surjeet Singh Slathia Breaking: Punjab School Education Board (PSEB) 10th Result 2024 Declared Shayar Movie Review: A Magical Journey Through The World Of Shayari 6 Top Kavita Radheshyam Web Series To Watch | 5 Dariya News Varun Sood Net Worth 2024: Uncovering the Wealth of A Multi Talented Star | 5 Dariya News Punjab Congress Kickstart Election Campaign From Sangrur A Night of Stars And Striking Performances inside the Grand Premiere of 'Shayar' Tsunami of AAP in Bharuch - Massive turnout in Bhagwant Mann's 'Jan Ashirwad Yatra' in Gujarat Meeting of all BJP district in-charges, presidents, general secretaries, morcha and mañdal presidents and general secretaries held in BJP office Gurjit Singh Aujla bowed down to Shri Harmandir Sahib and Sri Durgiana temple Birla Open Minds Joins Forces with Rohit Sharma Cricket Academy CricKingdom to Elevate Cricket Programs within their schools ''PEC had always been Jaspal Ji's Second Mother'': Savita Bhatti The Ultimate Guide to Sustainable Kitchen Cleaning Professor Dr Robert Zeiser receives DKMS Mechtild Harf Science Award 2024 SOMANY MAX Glazed Vitrified Tiles (GVT) - A New Standard in the Tiles Vertical DC conducts surprise inspection in Gill Road grain market Ensure strict compliance of 'Safe School Vahan Policy' for safety of students or be ready to face action - DC to school heads Administration to make all-out efforts to wipe out child begging Sanjay Tandon Emphasizes Senior Citizens' Crucial Role in Society Punjab Police Solves Murder Case Of VHP Leader Within 72 Hours; Two Assailants Held


Sensex gives up morning gains of more than 400 points led by losses in Axis Bank

Sensex Today
Listen to this article

Web Admin

Web Admin

5 Dariya News

New Delhi , 24 Jan 2024

Indian markets gave up morning gains on Wednesday after private sector banks came under selling pressure.BSE Sensex which was up more than 400 points in the morning is now flat at 70,369.59 points.

Axis Bank is down more than 3 per cent, ICICI Bank is down more than 2 per cent, Asian Paints is down more than 2 per cent, TCS is down more than 1 per cent.Motilal Oswal Financial Services downgraded Axis Bank to Neutral with a revised TP of Rs 1,175. The brokerage said Axis Bank reported in-line PAT at Rs 60.7b (up 4% YoY/3.5% QoQ) in 3QFY24, driven by healthy other income, which was partly offset by an increase in provisions due to AIF-related provisioning.

NIMs moderated 10bp QoQ to 4.01%. The management has suggested that funding costs will continue to inch up over the next two quarters. Loan growth was healthy at 22% YoY/3.9% QoQ, while deposit growth was robust at 5% QoQ. The C/D ratio moderated 110bp QoQ to 92.8%.

“We cut our FY25E EPS by 8% considering an increase in costs and margin pressures. Moreover, with a high CD ratio being of 93%, we estimate AXSB to deliver a 15.7% CAGR in loans over FY24-26E, slower than peers,” the report said.

The important takeaway from yesterday's (Tuesday) sharp market correction is not the 1.54% cut in Nifty but the crash in Nifty Midcap and Nifty Smallcap indices by 3.15% and 2.87% respectively, says V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

The valuations in the broader market had become excessive and unsustainable as pointed out many times recently, he said.The trigger for the correction came mainly from the sustained selling by FIIs who have sold equity worth Rs 27830 crores during the last 5 days, he added.

Some news and rumours also contributed to the selling in the market. There is news that SEBI is tightening the ultimate beneficiary norms for FPIs starting February 1. This might have triggered some FPI selling. Also, there is a rumour floating around that the finance minister may tweak the LTCG tax taking away the advantages investors are enjoying now, he added.

Further selling by FPIs and more corrections in the broader market are likely. Investors may wait for the market to stabilise. Safety now is in fairly priced large caps, he said.


Tags: Sensex , Mumbai , BSE , Nifty , Shares , National Stock Exchange , Stock Market , Sensex News Today , Sensex Latest News , Sensex Updates , Sensex Graph , Sensex Graph Today , Sensex Verdict , Sensex Today Verdict , Sensex Option Change , Sensex Today Live , Sensex Share Price



related news




Photo Gallery



Video Gallery



5 Dariya News RNI Code: PUNMUL/2011/49000
© 2011-2024 | 5 Dariya News | All Rights Reserved
Powered by: CDS PVT LTD