Yes Bank Reports Profit; NPA Spoils The Show

Apr 21, 2017 | 03:25 PM IST

Market This Week

The market this week was too volatile compared to last week, but the primary trend was up. Domestic uncertainties were due to global worries like uncertain U.S. foreign policies. As we can see FIIs buying was still on while DIIs were booking short term gains and reinvesting in the market. Investors were eyeing on quarter earnings of the companies. IT earning results have disappointed the market, but somehow midcaps have started well and there are bigger hopes from remaining set of midcap companies to deliver better results.

Movers And Shakers

The earning season kick-started with Infosys last week. It disappointed the street but looking at the global uncertainties going on for IT companies, Infosys is doing well to tackle the situation. Yes Bank has posted better results but like always asset quality and Non-performing assets (NPA) are big roadblocks. The concern for the banks, like it was in the last quarter, is NPAs rose by 1.5% this quarter. On the other hand, as we had anticipated last week, midcaps are again the gainers for the market.

Key Market Drivers

Indiabulls Real Estate was the pick of the month as the stock spiked more than 60% in the short span of 25 days. The stock has given investors a pleasant short-term gain. The restructuring news from the company gave a boost to the investors' sentiments and street went on buying the stock like a hot cake. Later the stock settled nearly 40% up in a single trading session. Edelweiss Financial Services is on a bull run as well. While DHFL is gaining silently.

Event Watch

Post Yes Bank result, eyes are on other giants like SBI, ICICI. But most favourites are still midcaps, as post demonetisation, midcaps were crawling but has gained the momentum and recovered earlier losses. At this point, midcaps are counting profits which are only expected to grow in coming time.

Stocks to Watch

Talwalkar's Better Value Fitness is on the upside while Cipla is on the downside.

 

ABOUT AUTHOR

Niveza Editorial Desk : We are a team of stock market nerds trying to stay ahead of the herd. We spend our grey cells everyday to pave a smooth road for our clients in the shaky world of stock market. While...
FULL BIO

LEAVE A COMMENT

RECOMMENDED READING

Nifty Above 10,700 For First Time; Sensex Misses The 35K Milestone

Share Market News – 15-January-2018 The market on Monday began on a positive note as Sensex was up by 180 points to trade above 34,700 levels while Nifty was up by 50 points to trade above 10,700 for the first time. The
Read More>>

Bulls Take Charge As Sensex & Nifty Scale New High

Market This Week The New Year cheer extended for the second consecutive week as the benchmark indices once again continued to hit new record highs throughout the week backed
Read More>>

Free Research Report- Himatsingka Seide Ltd

The Himatsingka Group focuses on the manufacturing,
Read More>>

Why Settle For Less? The Best Tax Saving Investment

The tax season starts with the new year and all the salaried and business people scurry around to find the hacks to save maximum tax. The problem with people's perception is that they tend to think of Income Tax Act as an incomprehensible text
Read More>>

Sensex At Record High, Nifty Above 10650; IT, Telecom Stocks Rally

Share Market News – 11-January-2018 The market started on a flat note on Thursday as Sensex inched up by 15 points to trade above 34,450 levels while Nifty edged down by 3 points. The broader market also started on a
Read More>>