Banking stocks under pressure The performance of banking stocks is likely to weigh on the markets. Currently, the Bank Nifty spot price is quoting at a premium to the Bank Nifty futures contract for May, and so are the leading banking stocks, such as HDFC Bank and Kotak Mahindra Bank, to their respective futures.
Analysts say this is an indication of bearish sentiment towards banking stocks. Ideally, the price of cash and futures converge or the latter trades at a slight premium. “The market is holding fort because of buying in select FMCG counters and Reliance Industries. Banks ...
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First Published: Sun, May 10 2020. 20:49 IST
