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Six expectations of banking sector from Budget 2017

Six expectations of banking sector from Budget 2017 on Business Standard. Since the low 2,0148 hit on December 26, the Bankex has risen 12% to settle at 22,566 last week

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Six expectations of banking sector from Budget 2017

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  1. Six expectations of banking sector from Budget 2017 [Since the low 2,0148 hit on December 26, the Bankex has risen 12% to settle at 22,566 last week] With the Union Budget 2017 just a sniffing distance away, banking stocks are on a roll. The BSE Bankex, the barometer of banking stocks, has shot up 12% since its December lows in the anticipation of budgetary stimulus to keep demons of demonetisation at bay. Since the low 2,0148 hit on December 26, the Bankex has risen 12% to settle at 22,566 last week. This is against an 8% rise in Sensex during the same period. Bank stocks such as YES Bank (up 27%), Federal Bank (up 26%), Punjab National Bank (up 20%), IndusInd Bank (up 18%) and Bank of Baroda (up 14%) have seen a phenomenal rally in the period mentioned. Others such as Kotak Mahindra Bank, HDFC Bank, ICICI Bank, AXIS Bank and SBI too gained anywhere between 9% and 11%. Below are six concerns that market participants hope FM Arun Jaitley will address in Budget 2017: Click Here

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