After market hours on Tuesday, HDFC - the country’s largest mortgage lender - reduced its home loan rates by up to 0.45%.
Morgan Stanley and Credit Suisse on Tuesday slashed their target prices on LIC Housing Finance by 20% and 7.5%, respectively, following the cut in a key lending rate by banks.
For many of global brokerages India remains an 'overweight' despite near-term disruptions from note ban. Risk premium in EMs would remain high.
Demand scenario is still in the doldrums, analysts said, adding that companies, such as Oberoi Realty and Sobha, would be outliers in the space going ahead.
“While the cut makes SBI’s rate significantly cheaper than peers’, we expect other banks to follow suit as they announce their MCLR in the coming weeks.
Parker sees Sensex in a range of 26,000-29,000 in 2017, but comparatively, China, Taiwan and East European markets will do better within the emerging markets.
Analysts one should be cautious and stick to stocks that still offer reasonable valuation and have strong balance sheets.
Market-wide F&O rollovers stood at 84%. Dalal Street remains cautious going into next series with Budget expectations driving sentiments, say experts.
Nomura said core import volumes are likely to weaken further in the coming months due to demonetisation, which could lead to weak growth in container volume growth in the near term.
The year began with expectations of positive returns but certain events, particularly demonetisation, took the steam out of Indian equities.
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