PSU banks shine in dull market after Budget announcement. Here's why
Thu, Feb 1, 2024 1:57 PM

PSU banks shine in dull market after Budget announcement. Here's why

A Flip by Shubhangi Gupta
Get it on Google Play
The budget announcement of lower borrowing programme and decrease in bond yields led to an increase in trading and surge in Nifty PSU Bank index. PSU banks saw notable gains, with analysts attributing it to their higher proportion of government bonds and potential inclusion in global bond index. The government also lowered its fiscal deficit targets for FY24 and FY25.

More great flips

Wall St futures choppy as investors digest Fed’s rate cut view

Wall St futures choppy as investors digest Fed’s rate cut view

U.S. stock index futures were subdued on Mon after a last-minute government funding bill averted a shutdown and investors parsed the central bank's forecast on interest-rate cuts next year. The USC passed spending legislation early on Saturday, minutes after the funding's expiration, which could have disrupted everything from law enforcement to national parks ahead of busy Christmas travel season.

Open Flip
Top analyst revisits Broadcom stock price target amid December surge

Top analyst revisits Broadcom stock price target amid December surge

Broadcom shares moved higher in early Monday trading, putting the stock on pace for a December gain of around 40%, following another price target boost for the AI chipmaker from a top Wall Street analyst. Broadcom  (AVGO)  shares topped the $1 trillion mark this month, in terms of market value, as the group continues to benefit from its market leadership in custom AI chips as well.

Open Flip
Trade Setup for December 24: 200-DMA remains elusive for Nifty!

Trade Setup for December 24: 200-DMA remains elusive for Nifty!

After a gap-up opening, the Nifty 50 index traded within a narrow range before closing at 23,753.45, remaining below its 200-day moving average (DMA). The market ended higher but retreated from intraday peaks, breaking a five-day losing streak. Financial stocks outperformed, with the Nifty Bank gaining over 1%.

Open Flip

Join our Smart Investment Community

More than 2 Million users are using FlipItMoney to stay updated about the business and finance world! Join FlipItMoney now and take smart investment decisions!
Icon