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Informist, Friday, Feb. 14, 2025

MUMBAI – Analysts are cautious on the movement of the Nifty Bank sectoral index next week. On the National Stock Exchange Friday, the Nifty Bank closed 0.5% lower at 49099.45 points, down 2.1% on week. "If (the) 48700 (points level) is breached, a correction back to 47000 (points) should be considered. Conversely, bullish action will only resume above 50800 (points). The bias for the week remains cautious," said Brijesh Ail, head of technical and derivatives at IDBI Capital Markets and Securities Ltd.

Kotak Mahindra Bank's shares inched up after the Reserve Bank of India Thursday lifted restrictions on the bank and allowed it to resume issuing new credit cards and onboarding new customers through its online and mobile banking channels. On the NSE, shares of the bank closed 1.0% higher at INR 1,952.40 Friday.

Analysts have mixed views on the peformance of the benchmark indices next week, with the main earnings season ending this week and uncertainty around US tariffs and other policies of President Donald Trump. Some analysts expect the domestic headline gauge Nifty 50 to bounce back next week, while others say the fall may continue. Any commentary from Trump will be closely monitored by market participants.

Trump Thursday termed India a country with one of the world's highest tariff structure. "India charges more tariffs than any other country. It's hard to sell in India because they have very strong tariffs... Whatever India charges us, we'll charge them... Reciprocal tariffs are the fair way to go," he said at a press briefing along with Prime Minister Narendra Modi.

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* CARE, CRISIL Ratings assign 'AAA' rtg to Indian Bank's proposed tier-2 bonds
* RBI lifts credit card, digital onboarding restrictions on Kotak Mahindra Bk
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* Ujjivan Small Finance Bank gets SEBI nod to act as banker to issues
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* RBI issues norms on making NDS-OM platform accessible to non-bank brokers
* PNB, Indian Bank, Karur Vysya Bank slash repo-linked lending rates by 25 bps
* RBI issues draft norm to improve international online payment authentication
* UCO Bank gets GST demand for INR 14.74 bln, excluding penalty, interest
* RBI fines Federal Bank, Karur Vysya Bank for non-compliance of norms
* Bank of India cuts repo-based lending rate by 25 bps to 9.10%, effective Fri
* RBI's rate cut, albeit late, to benefit econ, says fin min source
* India Ratings reaffirms Bank of India's bonds ratings; outlook stable

Following are the resistance and support levels for the stocks for next week as per calculations based on their prices on the National Stock Exchange:

End

Reported by Kshipra Petkar 

Edited by Rajeev Pai

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