Banking Stocks Experience Selling Pressure on Weekly Expiry Day
The Indian stock market witnessed selling pressure in banking stocks on the weekly expiry day. However, experts suggest that this is a good opportunity to invest in these stocks. Motilal Oswal, a leading brokerage firm, has recommended investing in five private sector banking stocks that can generate returns up to 23%. It is noteworthy that all these stocks closed in the red zone on the day of expiry and RBI’s MPC meeting.
Details of the five recommended stocks by the brokerage firm are as follows:
1. Axis Bank – The stock closed at INR 962.45 with a decline of 1.43% on BSE. The target price set by the firm for investment in this stock is INR 1100, which is nearly 14% higher from the current level.
2. ICICI Bank – The stock closed at INR 937.30 with a decline of 0.28% on BSE. The target price set by the firm for investment in this stock can generate returns up to 23%.
3. Federal Bank – The stock closed at INR 126.10 with a decline of 0.08% on BSE. The target price set by the firm for investment in this stock is INR 155, which can generate returns up to 23%.
4. HDFC Bank – The stock closed at INR 1608.90 with a marginal gain of 0.07% on BSE. The target price set by the firm for investment in this stock is INR 1950, which can generate returns up to 21%.
5. IndusInd Bank – The stock closed at INR 1303.35 with a decline of 0.59% on BSE. The target price set by the firm for investment in this stock is INR 1450.
Experts suggest that investors should take the advice of certified experts before making any investment decisions.
Follow DelhiBreakings on Google News
Superfast News Coverage by DelhiBreakings.com team.
For Superfast national news and Delhi Breaking Stories visit us daily at https://delhibreakings.com
