MARKET UPDATE:Sensex gained 420 points at 49,980 levels and Nifty reclaimed the psychological level of 15,000
Published On: Friday, May 21, 2021 | By: Team KnowMyStock
The markets in India rose over half a percent in morning deals today(21st May 2021), tracking firm trends in other Asian markets. The S&P BSE Sensex gained 420 points, or 0.86 percent, at 49,980 levels and the Nifty50 index reclaimed the psychological level of 15,000. IndusInd Bank and State Bank of India were up 2 percent, each. The Nifty sectoral indices were painted green, with the Nifty Bank index trading over 1 percent higher. Forty-nine companies, including State Bank of India, Hindalco Industries, JSW Steel, Shree Cement, Godrej Industries, and South Indian Bank are set to release their quarterly earnings today.
A healthy net interest income (NII) growth, coupled with healthy recoveries and fewer provisions and aided by low base of the previous year, may help State Bank of India (SBI) report robust March quarter (Q4FY21) numbers, analysts say. However, given the second wave of Covid-19 in the country, analysts would track the management’s asset quality outlook, growth in loan book, and restructuring trends.
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