Money on the markets

A maturing market amid the mayhem

Banking index gains

November 4, 2010

The BSE Banking index rose 2.12 percent on Thursday as investors were optimistic about longer-term loan demand outlook in the economy.

Leading the index was IDBI Bank, which gained 5.2 percent, closely followed by SBI which ended 4.98 percent higher. Private sector lender ICICI gained 2 percent.

Only two stocks in the index – Union Bank and Yes Bank – ended in the red.

The banking sector index has risen close to 50 percent so far in 2010. Will you invest in this sector now?

Comments

no, almost all banking stocks large & mid-cap in public & private sectors have gone up too high. One should not hurry to enter them for investment now. China ,US and EU economies are in turbulance. QE2 in US will sooner than later create asset bubble in Indian stock market. There is fair chance of a Jan-2008 kind of melt down in Indian stock market. So, better sit on fence and see the game bid poerators play. Do stay away from all bank counters.

Posted by growyourmoney | Report as abusive
 

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