Watch out for asset quality trends from PSU banks: Enam
results reported by the BFSI players so far including, HDFC, HDFC Bank and IndusInd have shown healthy growth and asset quality trend, but we need to watch out for asset quality trends from the public sector bank results, says Nandan Chakraborty of ENAM.
July 16, 2012 / 08:31 IST
Here are experts equity calls for the day on how the markets are expected to trade:
Nandan Chakraborty, ENAM: Results season kicked off with diametrically opposite trends from the IT bellwethers. While TCS grew its business at a steady clip, Infosys struggled due to price cuts resulting in earnings downgrades. On the other hand, results reported by the BFSI players so far including, HDFC, HDFC Bank and IndusInd have shown healthy growth and asset quality trend, but we need to watch out for asset quality trends from the public sector bank results.Laurence Balanco, CLSA: Regional markets have suffered a lot of technical damage over the past 12 months and any suggestion of a renewed bull advance may prove premature. An extended sideways consolidation, above major support levels of 2010 and 2011 lows, lies ahead after a 'summer rally'. But there is also the possibility of further declines. The consumer discretionary sector has topped out and there may be further underperformance in the coming weeks. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
