Do you think that banks will drive the market forward from here?
Yes. Banks like the State Bank of India are still looking very promising if one is looking at it from the perspective of 6 months or 1 year. Valuation-wise, Kotak Mahindra Bank is still looking okay. It is not expensive and you can see some upside there because it has been underperforming. Bank Nifty is something which can remain buoyant because of move expected from the likes of SBI and Kotak Bank. I will not be surprised if Nifty consolidates and does not move much, but Bank Nifty does a little better.
Indian shares cut losses as focus shifts to Fed s U S growth outlook reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Losses in energy and financial stocks pulled Indian shares down from record highs on Wednesday, with investors cautious ahead of key U.S. inflation data due later in the week.. | June 9, 2021
Indian shares edged up to hover near record highs on Wednesday, with heavyweight financial companies leading gains, as risk sentiment improved on strength in global markets and declining COVID-19 cases at home.