The markets have done fairly good over the last week with the Nifty hitting and crossing some major levels. Most of the stocks have done well and so has the Bank Index and banking stocks performed. There seems to be a slight headwind with the Nifty Index climbing higher levels of the stairs.
Nifty has moved on from the levels of 4720 to 5,100 but there are many stocks in the Banking index which are due to perform. Some of the companies to be listed can be HDFC Bank, Axis Bank and HDFC. Also the big stocks such as State Bank of India, ICICI haven’t done much as expected. The rally is also due to affect some other popular names such as the PNB and Bank of Baroda.
Therefore it can be said that the banking sector is due to react to the improved sentiments in the market. It is however a difficult sector to trade in the sector with the uncertainty creeping in. It does seem that the Banking sector has left behind to suffer some of the corrections which they were lagging behind, but it wont be too late to see these stocks perform to go at higher levels like the market.
Bell the Bull says: Banking stocks are one of the key movers of the markets, it has however not witnessed the positive move of the market so a spike can be expected in them for the next week.