A morning walk down Dalal Street | Nifty needs strong follow-up buying, positional traders should go long
Episode 1631, Sep 03, 2019, 01:30 AM
Nifty bounced back after breaching 10,900 levels on intraday basis to close above 11K levels.
Hopes of fresh stimulus measure rekindled animal spirits on D-Street and helped the index to reclaim 11000 levels for the Nifty and Sensex closed above 37000
Nirmala Sitharaman unveiled a plan to make India a $5 trn economy and this can be done by consolidating PSU Banks.
The government announced four major mergers of public sector banks, bringing down their total number to 12 from 27 in 2017, a move aimed at making state-owned lenders global sized banks.
United Bank of India and Oriental Bank of Commerce will be merged with Punjab National Bank, making the proposed entity the second largest public sector bank (PSB).