We expect the Nifty to remain in a range of 9,000-9,200 levels next week as well, citing lack of triggers. Next trigger for the market would be March quarter earnings that are expected to be good. Global markets were mixed amid uncertainty over a delayed vote on US President Donald Trump’s health-care bill. Japan’s Nikkei and Australia’s ASX 200 gained nearly a percent while European markets were moderately lower at the time of writing this article.
Bank Nifty Outlook :
Banks stocks hogged limelight after Finance Minister promised at IBLA award ceremony on Thursday that new policy for resolution of non-performing assets will be announced soon. PSU Bank gained the most, up more than 3 percent while Nifty Bank was up over a percent. Bank of India, PNB, Bank of Baroda, ICICI Bank and SBI surged 3-5 percent while HDFC Bank lost half a percent. Yes Bank gained nearly 1 percent as its qualified institutional placement issue received good response, subscribed over 2.5 times.