Banking stocks in momentum ahead of RBI Credit policy

Banking stocks in momentum ahead of RBI Credit policy on 4th Dec and 2-Day MPC meeting commence from tomorrow … positive on SBI, ICICI Bank, HDFC Bank, Axis Bank, Bandhan Bank
Expects momentum on Banking stocks ahead of RBI credit policy on 4th Dec. The MPC (Monetary Policy Committee) is scheduled to meet policy meeting tomorrow and the final outcome will be released by the RBI December 4. Expectation the status quo with repo rate remaining unchanged at 4 percent and reverse repo rate at 3.35 percent due to inflationary pressures and maintaining accommodative stance, but the key thing to watch out for would be the commentary by the RBI about growth in coming quarters and next year, along with the announcement of some measures if any, to support the economic revival. We are positive on SBI, ICICI Bank, HDFC Bank, Axis Bank, Bandhan Bank
On Thursday, the Sensex had ended 358.54 points or 0.71 per cent higher at its new closing record of 50,614.29; and the Nifty had settled with 105.70 points or 0.71 per cent gains at its closing peak of 14,895.65. Both indices had touched their all-time highs as well during the session.