Monday, May 20

Capital Paramount Opening Bell

The Indian equity markets despite a choppy session managed to close with modest gains on Friday on strength in power, Capital goods and realty stocks. There was some somberness due to S&P retaining the sovereign ratings BBB- with negative outlook. Industry body CII has termed the S&P decision unfortunate and harsh. Today, the start is likely to be in green on the back of firm global cues, Nifty that missed the 6200 mark on Friday, is likely to gain it in very initial trade. There will be buzz in the banking sector, as the apex bank, Reserve Bank of India (RBI) has proposed a review of all banking licences from the ‘fit and proper’ angle, following the allegations made by Cobrapost, which involves assessment of the promoters, management, CEOs of even the existing banks. 

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