Stock Market LIVE Updates: Indian equity benchmarks BSE Sensex and NSE Nifty50 started Thursday’s session on a mildly positive note despite weakness across most global markets.
In fact, I see, over the next 2-3 years, more banks actually entering the card space.
Suresh Ganapathy, Banking Analyst at Macquarie Capital Securities, tells CNBC-TV18 that the price paid for Citi in the Axis Bank deal is reasonable.
It is likely to find support near Rs 7,400 and a sustained break above immediate trendline resistance at Rs 8,200 could extend the move higher towards next major resistance at Rs 8,500,” he tells CNBCTV18.com.
I am looking at contrarian sectors to outperform, which means financial, cement, reality and auto,” he says.
Both headline indices gain as much as 0.4 percent in the first few minutes of the session.