Bank Stocks Outlook
Seen up next week, Nifty Bank may cross 56000
This story was originally published at 19:58 IST on 2 May 2025
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MUMBAI – Banking stocks are seen up next week with analysts expecting the Nifty Bank to cross 56000 points. The Nifty Bank underperformed the benchmark indices this week and closed at 55115.35 points on Friday, up 0.8% from a week ago. In comparison, the Nifty 50 and the BSE Sensex had risen 1.3% and 1.6%, respectively, this week.
"For traders, 55,800 would be the immediate breakout level. Above this, it could move up to 56,100–56,500. However, a dismissal of 54,700 could accelerate selling pressure. Below this level, it could slip to 54,000–53,700," Amol Athawale, vice-president, technical research at Kotak Securities, said in a note.
Shares of State Bank of India and Kotak Mahindra Bank, which will announce their financial results for the Jan-Mar quarter on Saturday, will be in focus next week. The net profit of SBI and Kotak Mahindra Bank is expected to fall year-on-year due to a rise in provisions. According to an average of estimates from 16 brokerages, SBI's net profit is seen falling 15% on year to INR 175.70 billion in Jan-Mar. Kotak Mahindra Bank's net profit is seen falling 14% on year to INR 35.66 billion, as per the average of estimates from 15 brokerages.
TOP HEADLINES
* Earnings Outlook: SBI Jan-Mar PAT seen 15% lower YoY on higher provisions
* RBI OKs IndusInd Bank panel to perform MD, CEO duties after Kathpalia's exit
* IndusInd Bank MD Sumant Kathpalia resigns amid derivatives portfolio scandal
* SBI board to mull on Saturday raising funds for FY26 via equity
* Earnings Outlook:Kotak Bk Jan-Mar PAT seen down 14% YoY on higher provisions
* Earnings Outlook: Drop in provisions seen lifting Indian Bk's PAT 25% on yr
* Cholamandalam Invest to foray into gold loans with 100 new branches - CFO
* IndusInd Bk to rejig senior management over lapses in derivative portfolio
* RBI fines Indian Bank INR 16.14 mln for breaching multiple norms
* Axis Bank's Deputy MD Rajiv Anand to retire from bank on Aug 3
Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:
| Company | Price | Week-on-Week Change in % | Resistance | Support |
| AU Small Finance Bank | 676.4 | 0.20 | 693.90 | 665.50 |
| Axis Bank | 1182.20 | 1.40 | 1221.30 | 1160.50 |
| Bank of Baroda | 248.61 | 0.70 | 254.80 | 243.20 |
| Canara Bank | 96.85 | 0.30 | 99.90 | 94.90 |
| Federal Bank | 189.68 | (-)3.50 | 199.20 | 183.10 |
| HDFC Bank | 1925.00 | 0.70 | 1950.90 | 1907.10 |
| ICICI Bank | 1432.40 | 2.00 | 1456.50 | 1412.50 |
| IDFC FIRST Bank | 66.08 | 0.00 | 67.60 | 64.20 |
| IndusInd Bank | 853.00 | 3.70 | 880.30 | 819.50 |
| Kotak Mahindra Bank | 2185.20 | (-)0.90 | 2245.70 | 2140.90 |
| Punjab National Bank | 99.72 | 0.40 | 102.70 | 97.60 |
| State Bank of India | 800.00 | 0.20 | 811.90 | 783.10 |
| Nifty Bank | 55115.35 | 0.80 | 55964.80 | 54569.70 |
| Nifty 50 | 24346.70 | 1.30 | 24742.10 | 24040.80 |
| S&P BSE Sensex | 80501.99 | 1.60 | 81625.50 | 79606.80 |
End
Reported by Kshipra Petkar
Edited by Saji George Titus
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