Saturday, September 05
ET Intelligence Group: The operating profit of banks in the July-September period failed to grow year-on-year for the first time in 13 quarters, impacted by muted growth in net interest income (NII). According to the ETIG analysis, the pre-provision operating profit (PPOP) of banks declined by 1% year-on-year to ₹1.5 lakh crore in the September quarter compared with the 17% increase in the previous quarter. Analysts believe that the contraction in net interest margins (NIM) over the past few quarters is in the last phase and margins are likely to stabilse from hereon. Prior to this, PPOP had grown consistently between 5% and 42% for 12 quarters. Bank earnings took a hit following the Reserve Bank of India's (RBI) series of repo rate cuts since January. "Weak NII growth and lower treasury
Nifty is expected to test new record highs if it breaks above 26,250–26,300, analysts said, while key support lies between 25,500 and 25,800. Upside targets range from 26,500 to 27,200, though a slide below 26,000 could trigger selling. Tata Consumer emerged as a unanimous top pick across all three analystsRAJESH PALVIYA HEAD OF TECHNICAL AND DERIVATIVES, AXIS SECURITIESWhere is Nifty headed this week? Nifty continues to trade at a crucial resistance zone near its all-time high. A decisive close above this level could lead to further upsides. A sustained move above 26,250 is likely to invite fresh buying, potentially driving the index towards the 26,500–26,700 range. Conversely, a break below 26,000 may trigger selling pressure, pulling the index down towards 25,850–25,500, with key
