BANKING STOCKS

[newmanin]

hi all,

anyone have idea about what is happening in banking sector now?
BANKINIDIA
BANKBARODA
PNB
AXISBANK
YESBANK
SBIN
CANARABANK
ANDHRA BANK
UNION BANK
SYNDICATE BANK
PNB
SBIN
ICICIBANK

only two leader are away from this downfall - indusind, HDFC.


can anybody throw some light how and why this downturn in bank nifty whereas the nifty bank and nifty bank PSU are only 5% or 10% discount from life high.

any leads or projection will be appreciated.

 

[travi]

...why this downturn in bank nifty whereas the nifty bank...

Can you clear this part?

 

[newmanin]

I mean to say. as in Nifty bank and Nifty PSU bank is down only 5-10% from top.
but these all banking stocks are hammered so badly and the near future also doesn't seems bright. any insight if can give or any report for the forcasting.
Nirav modi, pan parag scams are all over been 2 months. now they are hitting new lows again and again

 

[travi]

Well you need a bit of economics, so you can study why Bond yields are rising and INR weakening.... and its impact on inflation and the impact of higher cost of borrowing & its effect on Bank revenues and therefore its share price.

 

[newmanin]

it's basically the PSU were on fire, and news based ICICI due to chanda kochhar.

i got below government plannings to levy tax to arrange 40,000 crore revenue from banks - may be this can be a case.
https://economictimes.indiatimes.co...to-recall-tax-demand/articleshow/63903864.cms