Bank Shares: Indian markets on Tuesday took a positive cue from the global markets. The dovish stance of US Fed Chair Jerome Powell is making all the difference.
A major factor that will be determining the trajectory of equity markets across the world on Tuesday. Few factors that affect bank shares include overall market sentiment, future expectations, fundamental valuation, and the demand for banking services.
Bank shares go up and down depending upon a number of factors playing in the market. For some bank shares are a favourite while others don’t see it as that luring.
The latest Bank shares tally for the moment
|Bank||Share price (INR)|
|Axis Bank||Rs 783.20|
|HDFC Bank||Rs 1572.00|
|ICICI Bank||Rs 628.95|
|Yes Bank||Rs 10.90|
|Indusind Bank||Rs 997.80|
|Bank of Baroda||Rs 77.15|
|Union Bank||Rs 35.10|
|Canara Bank||Rs 159.45|
Momentum indicator RSI (14) has made the sharp up move to 78 levels.
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Owing to the sharp bounce in the last session and the Index reaching till the resistance zone may provide some profit booking in Tuesday’s session.
Moreover, the market has seen strong gains following the coronavirus pandemic. This is mostly driven by massive liquidity infusion as the central banks worldwide cut rates to record low levels and bought government securities.
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