Today, The Finance Minister is going to meet the important people from the
PSU Banks. Yesterday, the Markets reacted positively to the Prime Minister's Statement of 8-9% growth rate can be attainable if the people spend more.
The Finance Minister's meeting with the PSU Banks is another very important chapter as far as the Markets are concerned.
The Finance Minister and the Government is not happy with the fact that the Banks are lending at a very high rate of over 15% for the Infrastructure Projects.
Nor are they providing Loans easily. The Finance Minister is in a mood to relax the stringent policies that the Banks are following for lending purpose.
Today's FM's meeting with the PSU Banks is imperative. Markets can react once again Positively to this.
Two Sectors to Track are Banking and Infrastructure once again.
In Banking ICICI Bank and Axis Bank can once again gain some amount.
State Bank of India, is looking rock solid, as the Bank is all set to show Rs 10000 Crore in Net Profit. It is also looking for acquiring an undisclosed Bank. Well a PSU bank looking
for Acquisition, thats Tremendous.
In Infrastructure though DLF rose by more than 10% yesterday and once again trading above Rs 400, still there's is scope in it to lead the Charts. Unitech is also a good bet, I think it will go beyond Rs 100 soon.
HDIL and IDFC are looking good.
The Positive outcome of the Meeting will definitely result in much more Euphoria in the Markets. Yesterday the US Markets ended Flat, but FIIs are more bullish about India and some money is pouring into Indian Markets. FIIs have a great role, after all no Domestic Institution can counter them when they are in full flow.
So are we heading towards 16000 ?
Hmmm Just Wait n Watch or Be a Participant.
Subscribe to:
Post Comments (Atom)
Sensex at 15522 up nearly 400 points again.
ReplyDeleteWhat a sight for a trader and investor.
As I expected Unitech at 92.90 up nearly 5% again. ICICI Bank up 752 up by another 2%.
Other banks also up.
May be a little profit booking and short covering can come into the markets.
I was right, in the last 1 hour there were instances of profit bookings. Traders are not very sure about the markets, where are they heading, thats why short coverings and profit bookings.
ReplyDeleteThe meeting resulted in a decision by the Bankers that they will be cutting down the interest rates by a minimum of 0.25% and maximum of 1%.
Sensex at 15466 up by 340.