Marketbuzz Podcast with Vivek Iyer: Sensex, Nifty 50 are likely to open in green, financial stocks in focus
Episode 1139, Nov 17, 2023, 03:24 AM
Indian benchmark indices, Sensex and Nifty 50, are poised to open relatively flat yet leaning towards a positive trajectory on November 17. This optimistic outlook is fueled by expectations of the US Federal Reserve concluding rate hikes and a decline in crude oil prices.
However, the significant volatility that the market saw in the previous session is likely to extend on November 17 as well.
Notably, the focus will be on financial stocks — both banking and non-banking sectors. This follows the Reserve Bank of India's move to tighten norms for consumer credit, urging banks and NBFCs to assign a higher risk weight for unsecured personal loans. This strategic measure aims to instill a sense of caution among lenders regarding such advances, with a 25 percentage point increase in risk weight on unsecured consumer loans.
Meanwhile, the overnight session on Wall Street concluded with US indices displaying a mixed performance, largely near the flat line.
As far as the Indian economy is concerned, crude prices have seen a further sharp correction. Crude prices were hovering around the $95 per barrel mark a few months ago. However, in the previous session, there was a 5% dip, bringing Brent futures to approximately $77 per barrel in morning trade.
Stocks like TVS Motor Company, Axis Bank, JSW Infrastructure, JSW Steel, and other financial stocks will be in focus.
Tune in to the Marketbuzz Podcast for more cues
However, the significant volatility that the market saw in the previous session is likely to extend on November 17 as well.
Notably, the focus will be on financial stocks — both banking and non-banking sectors. This follows the Reserve Bank of India's move to tighten norms for consumer credit, urging banks and NBFCs to assign a higher risk weight for unsecured personal loans. This strategic measure aims to instill a sense of caution among lenders regarding such advances, with a 25 percentage point increase in risk weight on unsecured consumer loans.
Meanwhile, the overnight session on Wall Street concluded with US indices displaying a mixed performance, largely near the flat line.
As far as the Indian economy is concerned, crude prices have seen a further sharp correction. Crude prices were hovering around the $95 per barrel mark a few months ago. However, in the previous session, there was a 5% dip, bringing Brent futures to approximately $77 per barrel in morning trade.
Stocks like TVS Motor Company, Axis Bank, JSW Infrastructure, JSW Steel, and other financial stocks will be in focus.
Tune in to the Marketbuzz Podcast for more cues